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2026-04-30 0000357204 sbh:S000081723Member oef:RiskLoseMoneyMember 2026-04-30 2026-04-30 0000357204 sbh:S000081721Member oef:RiskLoseMoneyMember 2026-04-30 2026-04-30 0000357204 sbh:S000080591Member oef:RiskLoseMoneyMember 2026-04-30 2026-04-30 0000357204 sbh:S000080591Member oef:RiskNotInsuredDepositoryInstitutionMember 2026-04-30 2026-04-30 iso4217:USD pure false 485BPOS 2026-04-30 0000357204 N-1A SEGALL BRYANT & HAMILL TRUST 2026-04-30 Segall Bryant & Hamill Small Cap Value Fund Investment Objective <p id="xdx_A87_eoef--ObjectivePrimaryTextBlock_zbV8BAeKQlGa" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Segall Bryant &amp; Hamill Small Cap Value Fund (the “SBH Small Cap Value Fund” or “Fund”) seeks to achieve long-term capital appreciation. </p> Fees and Expenses of the Fund <p id="xdx_A8B_eoef--ExpenseNarrativeTextBlock_zcOtnHFV19Al" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. <b>You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. </b></p> Shareholder Fees (fees paid directly from your investment) 12.00 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0080 0.0080 0 0 0.0049 0.0021 0.0025 0.0010 0.0024 0.0011 0.0129 0.0101 -0.0015 -0.0002 0.0114 0.0099 April 30, 2027 Example <p id="xdx_A87_eoef--ExpenseExampleNarrativeTextBlock_z8R3xz9cu3Mk" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in either the Retail Class shares or the Institutional Class shares of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s total annual operating expenses remain the same. </p> Although your actual costs may be higher or lower, based on these assumptions your costs would be: 116 394 693 1543 101 320 556 1234 <p id="xdx_A81_eoef--ExpenseExampleNoRedemptionNarrativeTextBlock_ziLP7nJZk4v7" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">Your expenses would be the same if you did not redeem your shares. </p> Portfolio Turnover <p id="xdx_A86_eoef--PortfolioTurnoverTextBlock_z987llzcWC7e" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. A higher turnover rate may also result in higher taxes when Fund shares are held in a taxable account. During the most recent fiscal year, the portfolio turnover rate of the Fund was <span id="xdx_90F_eoef--PortfolioTurnoverRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000065432Member_z8dBcLbleM62">39%</span> of the average value of its portfolio. </p> 0.39 Principal Investment Strategies of the Fund <div id="xdx_A85_eoef--StrategyNarrativeTextBlock_z0DhVCFJgMli"></div> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Under normal circumstances, the Fund will invest at least 80% of its net assets (including amounts borrowed for investment purposes) in equity securities of small-capitalization companies. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund currently considers “small-capitalization companies” to be those included in, or similar in size to, those included in its benchmark index, the Russell 2000^® Value Index, at the time of purchase. As of February 27, 2026, the benchmark capitalization range was $8.3 million to $33.4 billion. As of February 27, 2026, the weighted average market capitalization of the benchmark index was approximately $3.9 billion as compared to approximately $4.9 billion for the companies within the Fund’s portfolio. Please note that these market capitalization measures will fluctuate over time. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund will primarily invest in common stock. The Fund is not limited to the stocks included in the Russell 2000^® Value Index. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">With respect to portfolio structure, the Adviser maintains exposure to most sectors within the benchmark; however, with an active management process, there will be variances in sector exposure relative to the benchmark index. The Adviser maintains guidelines to monitor this variance. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The investment process used by the Fund’s Adviser is driven by a combination of quantitative analysis (which may encompass techniques such as evaluation of financial data or statistical/mathematical modeling), fundamental analysis (which may include assessments of a company’s holdings or key characteristics, as well as broader economic factors) and experienced judgment. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Adviser seeks to invest in companies the stocks of which the Adviser believes are trading below the Adviser’s estimate of their intrinsic values. The Adviser searches for companies it believes are attractively priced relative to historical valuation, peer groups, and the market, concentrating most on cash flow capability over time. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The team seeks to identify companies that have the potential for significant improvement in return on invested capital (“ROIC”), with the idea being that, as ROIC improves, each dollar invested in the business earns an incrementally higher return. The team requires that management is ROIC-focused, financially incentivized to improve returns through appropriate capital allocation, and able to articulate an appropriate returns-based strategy to improve profitability. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund expects to only invest in securities of companies whose stock is traded on U.S. markets, including depositary receipts or shares issued by companies incorporated outside of the United States (e.g., ADRs). </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Stocks may be sold when conditions have changed and the company’s prospects are no longer attractive, its stock price has achieved the team’s valuation target or better relative investment opportunities have been identified. </p> </td> </tr> </table> Risk is inherent in all investing, and you could lose money by investing in the Fund. <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_918_ecustom--SmallCompanyRiskMember_zs8AUAZNgVth">Small Company Risk</span>: </i>The Fund is subject to the general risk that the stocks of smaller and newer companies can involve greater risks than those associated with larger, more established companies. Small company stocks may be subject to more abrupt or erratic price movements due to a number of reasons, including that the stocks are traded in lower volume and that the issuers are more sensitive to changing conditions and have less certain growth prospects. Small companies in which the Fund may invest typically lack the financial resources, product diversification, and competitive strengths of larger companies which may cause the value of the Fund to be more volatile. Small companies may be more thinly traded than larger, more established companies. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_91A_ecustom--ValueInvestingRiskMember_zWR3XY9n8H4d">Value Investing Risk</span>: </i>The value approach carries the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock considered to be undervalued may actually be appropriately priced. A portfolio may underperform other equity portfolios that use different investing styles. A portfolio may also underperform other equity portfolios using the value style. Value stocks as a group may be out of favor and underperform the overall equity market for a long period of time, for example, while the market favors “growth” stocks. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_919_ecustom--MarketRiskMember_zDmtzKJQkJhl">Market Risk</span>: </i>As with any fund, the value of your investment will fluctuate over time in response to overall movements in the stock market. Further, investments in common stocks tend to be more volatile than many other investment choices. The value of a security or other asset may decline due to changes in general market conditions, economic trends or events that are not specifically related to the issuer of the security or other asset, or factors that affect a particular issuer or issuers, country, group of countries, region, market industry, group of industries, sector or asset class. Local, regional, or global events such as war, acts of terrorism, the spread of infections, illness or other public health issues, recessions, tariffs and other similar economic arrangements, or other events could have a significant impact on the Fund and its investments. During a general market downturn, multiple asset classes may be negatively affected. Changes in market conditions and interest rates generally do not have the same impact on all types of securities and instruments. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_919_ecustom--EquitySecuritiesRiskMember_zD2p6GszP5i2">Equity Securities Risk</span>:</i> Investments in common stocks and other equity securities are particularly subject to the risk of changing economic, stock market, industry and company conditions and the risks inherent in the ability to anticipate such changes that can adversely affect the value of portfolio holdings. Preferred stock is subject to the risk that the dividend on the stock may be changed or omitted by the issuer and that participation in the growth of an issuer may be limited. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_911_ecustom--IssuerRiskMember_ze08Gd8bzQW4">Issuer Risk</span>: </i>The value of a security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. The value of an issuer’s security may deteriorate because of a variety of factors, including, but not limited to, disappointing earnings reports by the issuer, unsuccessful products or services, loss of major customers, major litigation against the issuer or changes in government regulations affecting the issuer or the competitive environment. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_91C_ecustom--PortfolioManagementRiskMember_zjLOlcY3BQx8">Portfolio Management Risk</span>:</i> The Fund is subject to the risk that the securities held by the Fund will underperform other securities and/or may decline in value. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_917_ecustom--SectorFocusRiskMember_z3NkC4kTQ1E7">Sector Focus Risk</span>: </i>The Fund may, for finite periods and from time to time, make significant investments in a particular sector which may make the Fund more susceptible to adverse economic, business, regulatory or other developments affecting that sector. If an economic downturn occurs in a sector in which the Fund’s investments are focused, the Fund may perform poorly during that period. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_91E_ecustom--IndirectForeignExposureRiskMember_zxyuLVRIGMU3">Indirect Foreign Exposure Risk</span>:</i> Investments in U.S.-traded securities that are organized under the laws of a foreign country or have significant business operations abroad may be impacted by certain foreign exposure risks indirectly. This includes securities in the form of sponsored and unsponsored depositary receipts. Unsponsored depositary receipts may be created without the participation of the foreign issuer. Holders of these depositary receipts generally bear all of the costs of the depositary facility and the bank or trust company depositary of an unsponsored depositary receipt may be under no obligation to distribute shareholder communications from the foreign issuer or to pass through voting rights. These risks will vary from time to time and from country to country, especially if the country is considered an emerging market or developing country. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_912_ecustom--AdrAndGdrRiskMember_zDHkd3clSQYd">ADR and GDR Risk</span>: </i>ADRs and GDRs may be subject to some of the same risks as direct investment in foreign companies, which includes international trade, currency, political, regulatory and diplomatic risks. In a sponsored ADR arrangement, the foreign issuer assumes the obligation to pay some or all of the Depository’s transaction fees. Under an unsponsored ADR arrangement, the foreign issuer assumes no obligations and the Depository’s transaction fees are paid directly by the ADR holders. Because unsponsored ADR arrangements are organized independently and without the cooperation of the issuer of the underlying securities, available information concerning the foreign issuer may not be as current as for sponsored ADRs and voting rights with respect to the deposited securities are not passed through. GDRs can involve additional currency risk since, unlike ADRs, they may not be U.S. Dollar-denominated. ADRs and GDRs may not trade at parity with the associated underlying security. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_918_ecustom--CybersecurityRiskMember_zOqlsJzQagM1">Cybersecurity Risk</span>: </i>With the increased use of technologies such as the Internet to conduct business, the Fund is susceptible to operational, information security, and related risks. Cyber incidents affecting the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Fund’s ability to calculate its NAV, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs. </p> </td> </tr> </table> Bar Chart and Performance Tables <p id="xdx_A89_eoef--PerformanceNarrativeTextBlock_zv4l95DXAvJc" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Fund acquired the assets of the Segall Bryant &amp; Hamill Small Cap Value Fund, a series portfolio of Investment Managers Series Trust, on December 9, 2019 (the “Predecessor Fund”). The Predecessor Fund was also advised by SBH. Performance results shown for the Institutional Class in the bar chart and the performance table below for periods prior to the reorganization reflect the performance of the Predecessor Fund. Institutional Class shares’ returns of the Fund will be different from the Predecessor Fund as they have different expenses. </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_901_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260430__20260430__dei--LegalEntityAxis__custom--S000065432Member_ztVNpC6hbMs">The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s performance from year to year, and by showing how the Fund’s average annual returns for one-, five-, and ten-years (including performance of the Predecessor Fund, as described above), compare with those of the Russell 3000^® Index, a broad-based securities market index, and the Russell 2000^® Value Index, an index more representative of the Fund’s investment strategy.</span> <span id="xdx_904_eoef--PerformancePastDoesNotIndicateFuture_c20260430__20260430__dei--LegalEntityAxis__custom--S000065432Member_ziGDR95ICoSl">The Fund’s past performance (including the Predecessor Fund’s past performance), before and after taxes, is not necessarily an indication of how the Fund will perform in the future.</span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">Updated performance information is available on <span id="xdx_902_eoef--PerformanceAvailabilityWebSiteAddress_c20260430__20260430__dei--LegalEntityAxis__custom--S000065432Member_zKCs2sxfUPa8">https://cisbh.com/funds</span> or call toll-free <span id="xdx_90A_eoef--PerformanceAvailabilityPhone_c20260430__20260430__dei--LegalEntityAxis__custom--S000065432Member_z8OshZXP0Sb8">(800) 392-2673</span>. </p> The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s performance from year to year, and by showing how the Fund’s average annual returns for one-, five-, and ten-years (including performance of the Predecessor Fund, as described above), compare with those of the Russell 3000® Index, a broad-based securities market index, and the Russell 2000® Value Index, an index more representative of the Fund’s investment strategy. The Fund’s past performance (including the Predecessor Fund’s past performance), before and after taxes, is not necessarily an indication of how the Fund will perform in the future. https://cisbh.com/funds (800) 392-2673 SBH Small Cap Value Fund Institutional Class - Calendar Year Total Returns as of December 31 (%) 0.2264 0.1095 -0.0438 0.2462 0.0622 0.1662 -0.1465 0.1195 0.1357 0.1218 <div id="xdx_A8A_eoef--BarChartClosingTextBlock_zUpMQvIUbBh2"></div> <table cellpadding="2" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="background-color: Gainsboro"> <td style="vertical-align: bottom; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_909_eoef--HighestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000065432Member__oef--ClassAxis__custom--C000211587Member_zGr4SUZ859Vj">Highest Quarterly Return:</span> </b><span style="font-weight: normal; font-style: normal"><span id="xdx_90C_eoef--BarChartHighestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000065432Member__oef--ClassAxis__custom--C000211587Member_zmQHUVJS2e4e">12/31/2020</span> <span id="xdx_909_eoef--BarChartHighestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000065432Member__oef--ClassAxis__custom--C000211587Member_zqH6xaCozVtf">27.38%</span></span></p></td> <td style="vertical-align: bottom; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_909_eoef--LowestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000065432Member__oef--ClassAxis__custom--C000211587Member_zJtX0uZ6hmM6">Lowest Quarterly Return:</span> </b><span style="font-weight: normal; font-style: normal"><span id="xdx_90F_eoef--BarChartLowestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000065432Member__oef--ClassAxis__custom--C000211587Member_zuMu7nshrIW">3/31/2020</span> <span id="xdx_905_eoef--BarChartLowestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000065432Member__oef--ClassAxis__custom--C000211587Member_zQKhjlKVX6Ig">(30.92)%</span></span></p></td> </tr> </table> Highest Quarterly Return: 2020-12-31 0.2738 Lowest Quarterly Return: 2020-03-31 -0.3092 Average Annual Total Returns (for the Periods Ended December 31, 2025) <p id="xdx_A87_eoef--PerformanceTableNarrativeTextBlock_zCH3a7aIsofj" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_90A_eoef--PerformanceTableUsesHighestFederalRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000065432Member_zF2HasxwLYeg">After-tax returns for the Institutional Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</span> Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. <span id="xdx_902_eoef--PerformanceTableOneClassOfAfterTaxShown_c20260430__20260430__dei--LegalEntityAxis__custom--S000065432Member_zoUeH8EKh9Vl">After-tax returns are shown only for the Institutional Class, after-tax returns for the Retail Class will be different.</span> <span id="xdx_902_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260430__20260430__dei--LegalEntityAxis__custom--S000065432Member_zxG0WKVw8uXi">After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts.</span> </p> After-tax returns for the Institutional Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown only for the Institutional Class, after-tax returns for the Retail Class will be different. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts. 0.1218 0.0726 0.0935 0.0925 0.0599 0.0796 0.0907 0.0552 0.0724 0.1205 0.0711 0.0921 0.1259 0.0888 0.0927 0.1715 0.1315 0.1429 SEGALL BRYANT & HAMILL SMALL CAP GROWTH FUND Investment Objective <p id="xdx_A8D_eoef--ObjectivePrimaryTextBlock_zh7PCDi752r6" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Segall Bryant &amp; Hamill Small Cap Growth Fund (the “SBH Small Cap Growth Fund” or “Fund”) seeks to achieve long-term capital appreciation. </p> Fees and Expenses of the Fund <p id="xdx_A82_eoef--ExpenseNarrativeTextBlock_zsoggShY77xf" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. <b>You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</b> </p> Shareholder Fees (fees paid directly from your investment) 12.00 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0065 0.0065 0 0 0.0040 0.0023 0.0025 0.0010 0.0015 0.0013 0.0105 0.0088 Example <p id="xdx_A8C_eoef--ExpenseExampleNarrativeTextBlock_zjYz6PzKm15f" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in either the Retail Class shares or the Institutional Class shares of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s total annual operating expenses remain the same. </p> Although your actual costs may be higher or lower, based on these assumptions your costs would be: 107 334 579 1283 90 281 488 1084 <p id="xdx_A8F_eoef--ExpenseExampleNoRedemptionNarrativeTextBlock_zMJ0REpsTp7k" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">Your expenses would be the same if you did not redeem your shares. </p> Portfolio Turnover <p id="xdx_A8F_eoef--PortfolioTurnoverTextBlock_zkoNwbjIhAI8" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. A higher turnover rate may also result in higher taxes when Fund shares are held in a taxable account. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_900_eoef--PortfolioTurnoverRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000043443Member_zUUmiIxNIkX8">51%</span> of the average value of its portfolio. </p> 0.51 Principal Investment Strategies of the Fund <div id="xdx_A87_eoef--StrategyNarrativeTextBlock_zgAa42JlQBW6"></div> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund emphasizes investments in small companies that the portfolio management team believes to have attractive growth prospects for earnings and/or cash flows. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Under normal circumstances, the Fund will invest at least 80% of its net assets (including amounts borrowed for investment purposes) in small-cap companies. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund currently considers “small-capitalization companies” to be those included in, or similar in size to, those included in its benchmark index, the Russell 2000^® Growth Index, at the time of purchase. As of February 27, 2026, the benchmark capitalization range was $7.0 million to $43.6 billion. As of February 27, 2026, the weighted average market capitalization of the benchmark index was approximately $6.5 billion as compared to approximately $8.1 billion for the companies within the Fund’s portfolio. Please note that these market capitalization measures will fluctuate over time. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The team implements an investment strategy primarily through independent “bottom-up” fundamental research. The team constructs a portfolio designed to generate alpha, or risk-adjusted excess return relative to the Fund’s benchmark, primarily through stock selection. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The team uses a proprietary discounted cash flow (DCF) model for purposes of valuing and generating price targets for individual stocks. The DCF model is utilized for two primary purposes – to understand what assumptions are implied in a stock’s current price, and to generate an expected value for each stock, based on the team’s internally generated forecasts. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">With respect to portfolio structure, the team typically maintains exposure to most sectors within the benchmark; however, with an active management process, there will be variances in sector exposure relative to the benchmark index. The team maintains guidelines to monitor this variance. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund expects to only invest in securities of companies whose stock is traded on U.S. markets, including depositary receipts or shares issued by companies incorporated outside of the United States (e.g., ADRs). </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Stocks may be sold when conditions have changed and the company’s prospects are no longer attractive, its stock price has achieved the team’s valuation target, certain objective criteria are met or better relative investment opportunities have been identified. </p> </td> </tr> </table> Risk is inherent in all investing, and you could lose money by investing in the Fund. <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Small Company Risk: </i>The Fund is subject to the general risk that the stocks of smaller and newer companies can involve greater risks than those associated with larger, more established companies. Small company stocks may be subject to more abrupt or erratic price movements due to a number of reasons, including that the stocks are traded in lower volume and that the issuers are more sensitive to changing conditions and have less certain growth prospects. Small companies in which the Fund may invest typically lack the financial resources, product diversification, and competitive strengths of larger companies which may cause the value of the Fund to be more volatile. Small companies may be more thinly traded than larger, more established companies. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_913_ecustom--GrowthInvestingRiskMember_zOIKRjPIHVF3">Growth Investing Risk</span>: </i>The Fund invests in companies that appear to be growth-oriented companies. If the Adviser’s perceptions of a company’s growth potential are wrong, the securities purchased may not perform as expected, causing losses that will reduce the Fund’s return. A portfolio may underperform other equity portfolios that use different investing styles. A portfolio may also underperform other equity portfolios using the growth style. Growth stocks as a group may be out of favor and underperform the overall equity market for a long period of time, for example, while the market favors “value” stocks. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Market Risk: </i>As with any fund, the value of your investment will fluctuate over time in response to overall movements in the stock market. Further, investments in common stocks tend to be more volatile than many other investment choices. The value of a security or other asset may decline due to changes in general market conditions, economic trends or events that are not specifically related to the issuer of the security or other asset, or factors that affect a particular issuer or issuers, country, group of countries, region, market industry, group of industries, sector or asset class. Local, regional, or global events such as war, acts of terrorism, the spread of infections, illness or other public health issues, recessions, tariffs and other similar economic arrangements, or other events could have a significant impact on the Fund and its investments. During a general market downturn, multiple asset classes may be negatively affected. Changes in market conditions and interest rates generally do not have the same impact on all types of securities and instruments. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Equity Securities Risk: </i>Investments in common stocks and other equity securities are particularly subject to the risk of changing economic, stock market, industry and company conditions and the risks inherent in the ability to anticipate such changes that can adversely affect the value of portfolio holdings. Preferred stock is subject to the risk that the dividend on the stock may be changed or omitted by the issuer and that participation in the growth of an issuer may be limited. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Issuer Risk: </i>The value of a security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. The value of an issuer’s security may deteriorate because of a variety of factors, including, but not limited to, disappointing earnings reports by the issuer, unsuccessful products or services, loss of major customers, major litigation against the issuer or changes in government regulations affecting the issuer or the competitive environment. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Portfolio Management Risk: </i>The Fund is subject to the risk that the securities held by the Fund will underperform other securities and/or may decline in value. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Sector Focus Risk: </i>The Fund may, for finite periods and from time to time, make significant investments in a particular sector which may make the Fund more susceptible to adverse economic, business, regulatory or other developments affecting that sector. If an economic downturn occurs in a sector in which the Fund’s investments are focused, the Fund may perform poorly during that period. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Indirect Foreign Exposure Risk:</i> Investments in U.S.-traded securities that are organized under the laws of a foreign country or have significant business operations abroad may be impacted by certain foreign exposure risks indirectly. This includes securities in the form of sponsored and unsponsored depositary receipts. Unsponsored depositary receipts may be created without the participation of the foreign issuer. Holders of these depositary receipts generally bear all of the costs of the depositary facility and the bank or trust company depositary of an unsponsored depositary receipt may be under no obligation to distribute shareholder communications from the foreign issuer or to pass through voting rights. These risks will vary from time to time and from country to country, especially if the country is considered an emerging market or developing country. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>ADR and GDR Risk: </i>ADRs and GDRs may be subject to some of the same risks as direct investment in foreign companies, which includes international trade, currency, political, regulatory and diplomatic risks. In a sponsored ADR arrangement, the foreign issuer assumes the obligation to pay some or all of the Depository’s transaction fees. Under an unsponsored ADR arrangement, the foreign issuer assumes no obligations and the Depository’s transaction fees are paid directly by the ADR holders. Because unsponsored ADR arrangements are organized independently and without the cooperation of the issuer of the underlying securities, available information concerning the foreign issuer may not be as current as for sponsored ADRs and voting rights with respect to the deposited securities are not passed through. GDRs can involve additional currency risk since, unlike ADRs, they may not be U.S. Dollar-denominated. ADRs and GDRs may not trade at parity with the associated underlying security. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Cybersecurity Risk: </i>With the increased use of technologies such as the Internet to conduct business, the Fund is susceptible to operational, information security, and related risks. Cyber incidents affecting the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Fund’s ability to calculate its NAV, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs. </p> </td> </tr> </table> Bar Chart and Performance Tables <p id="xdx_A87_eoef--PerformanceNarrativeTextBlock_zaPwDUb9IJT7" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_906_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260430__20260430__dei--LegalEntityAxis__custom--S000043443Member_zETCoRjXGdvl">The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s Retail Class performance from year to year, and by showing how the Fund’s average annual returns for one-, five- and ten-years compare with those of the Russell 3000^® Index, a broad-based securities market index, and the Russell 2000^® Growth Index, an index more representative of the Fund’s investment strategy.</span> <span id="xdx_90B_eoef--PerformancePastDoesNotIndicateFuture_c20260430__20260430__dei--LegalEntityAxis__custom--S000043443Member_zFiFjKtW9Tdd">The Fund’s past performance (before and after taxes) does not necessarily indicate how it will perform in the future.</span> Updated performance information is available on <span id="xdx_908_eoef--PerformanceAvailabilityWebSiteAddress_c20260430__20260430__dei--LegalEntityAxis__custom--S000043443Member_zLAZtNGkT8Hb">https://cisbh.com/funds</span> or call toll-free <span id="xdx_90A_eoef--PerformanceAvailabilityPhone_c20260430__20260430__dei--LegalEntityAxis__custom--S000043443Member_zeJ9qfqvTqdb">(800) 392-2673</span>.</p> The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s Retail Class performance from year to year, and by showing how the Fund’s average annual returns for one-, five- and ten-years compare with those of the Russell 3000® Index, a broad-based securities market index, and the Russell 2000® Growth Index, an index more representative of the Fund’s investment strategy. The Fund’s past performance (before and after taxes) does not necessarily indicate how it will perform in the future. https://cisbh.com/funds (800) 392-2673 SBH Small Cap Growth Fund Retail Class - Calendar Year Total Returns as of December 31 (%) 0.0879 0.2598 0.0319 0.2847 0.5767 0.1162 -0.3259 0.1810 0.1560 0.0663 <div id="xdx_A85_eoef--BarChartClosingTextBlock_zM61WPhFI2L1"></div> <table cellpadding="2" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="background-color: Gainsboro"> <td style="vertical-align: bottom; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_905_eoef--HighestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000043443Member__oef--ClassAxis__custom--C000134695Member_zyNMPt4Sycm6">Highest Quarterly Return:</span> </b><span style="font-weight: normal; font-style: normal"><span id="xdx_902_eoef--BarChartHighestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000043443Member__oef--ClassAxis__custom--C000134695Member_zPxWk4kVT4Sa">6/30/2020</span> <span id="xdx_90A_eoef--BarChartHighestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000043443Member__oef--ClassAxis__custom--C000134695Member_zxyAWis5HwLi">32.80%</span></span></p></td> <td style="vertical-align: bottom; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_909_eoef--LowestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000043443Member__oef--ClassAxis__custom--C000134695Member_zw22JpGnrcNe">Lowest Quarterly Return:</span></b><span style="font-weight: normal; font-style: normal"> <span id="xdx_904_eoef--BarChartLowestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000043443Member__oef--ClassAxis__custom--C000134695Member_zD5TrZqJ0cqj">6/30/2022</span> <span id="xdx_90C_eoef--BarChartLowestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000043443Member__oef--ClassAxis__custom--C000134695Member_zW3TGgeRFvS1">(22.34)%</span></span></p></td> </tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The returns above are for the Retail Class of the Fund. The Institutional Class would have substantially similar annual returns to the Retail Class because the classes are invested in the same portfolio securities. The Institutional Class’ returns will be higher over the long-term when compared to the Retail Class’ returns to the extent that the Retail Class has higher expenses. </p> Highest Quarterly Return: 2020-06-30 0.3280 Lowest Quarterly Return: 2022-06-30 -0.2234 Average Annual Total Returns (for the Periods Ended December 31, 2025) <p id="xdx_A87_eoef--PerformanceTableNarrativeTextBlock_zESf4uWEnith" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_90B_eoef--PerformanceTableUsesHighestFederalRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000043443Member_zoPURsgakIij">After-tax returns for the Retail Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</span> Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. <span id="xdx_908_eoef--PerformanceTableOneClassOfAfterTaxShown_c20260430__20260430__dei--LegalEntityAxis__custom--S000043443Member_znPoVxYU3s44">After-tax returns are shown only for the Retail Class; after-tax returns for the Institutional Class will be different.</span> <span id="xdx_903_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260430__20260430__dei--LegalEntityAxis__custom--S000043443Member_z0M1OaO1ymCa">After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts.</span> </p> After-tax returns for the Retail Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown only for the Retail Class; after-tax returns for the Institutional Class will be different. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts. 0.0663 0.0184 0.1212 0.0663 0.0184 0.1123 0.0392 0.0141 0.0968 0.0685 0.0201 0.1232 0.1301 0.0318 0.0957 0.1715 0.1315 0.1429 SEGALL BRYANT & HAMILL SMALL CAP CORE FUND Investment Objective <p id="xdx_A8D_eoef--ObjectivePrimaryTextBlock_z7ndEZKjXl58" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Segall Bryant &amp; Hamill Small Cap Core Fund (the “SBH Small Cap Core Fund” or “Fund”) seeks to achieve long-term capital appreciation. </p> Fees and Expenses of the Fund <p id="xdx_A8E_eoef--ExpenseNarrativeTextBlock_zbxkcMFU0ygd" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. <b>You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</b> </p> Shareholder Fees (fees paid directly from your investment) 12.00 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0080 0.0080 0.0207 0.0032 0.0025 0.0010 0.0182 0.0022 0.0287 0.0112 -0.0173 -0.0013 0.0114 0.0099 April 30, 2027 Example <p id="xdx_A87_eoef--ExpenseExampleNarrativeTextBlock_zVLHiZDFeyT1" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Retail Class shares of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s total annual operating expenses remain the same. This Example reflects the net operating expenses with expense waivers for the one-year contractual period and the total operating expenses without expense waivers for the three-year, five-year, and ten-year periods. </p> Although your actual costs may be higher or lower, based on these assumptions your costs would be: 116 725 1360 3070 101 343 604 1352 <p id="xdx_A8C_eoef--ExpenseExampleNoRedemptionNarrativeTextBlock_zaQYhG85uLE" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">Your expenses would be the same if you did not redeem your shares. </p> Portfolio Turnover <p id="xdx_A85_eoef--PortfolioTurnoverTextBlock_zNFUwtZck4U1" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. A higher turnover rate may also result in higher taxes when Fund shares are held in a taxable account. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_904_eoef--PortfolioTurnoverRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000067438Member_zKRHUxOpDdHl">40%</span> of the average value of its portfolio. </p> 0.40 Principal Investment Strategies of the Fund <div id="xdx_A88_eoef--StrategyNarrativeTextBlock_z8h06pjqcfz1"></div> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Under normal the Fund will invest at least 80% of its net assets (including amounts borrowed for investment purposes) in small-cap companies. The Fund currently considers “small-capitalization companies” to be those included in, or similar in size to, those included in its benchmark index, the Russell 2000^® Index, at the time of purchase. As of February 27, 2026, the benchmark capitalization range was $7.0 million to $43.6 billion. As of February 27, 2026, the weighted average market capitalization of the benchmark index was approximately $5.3 billion as compared to approximately $8.4 billion for the companies within the Fund’s portfolio. Please note that these market capitalization measures will fluctuate over time. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund is not limited to the stocks included in the Russell 2000^® Index. With respect to portfolio structure, the Adviser maintains exposure to most sectors within the benchmark; however, with an active management process, there will be variances in sector exposure relative to the benchmark index. The Adviser maintains guidelines to monitor this variance. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The investment process used by the Fund’s Adviser is driven by a combination of quantitative analysis (which may encompass techniques such as evaluation of financial data or statistical/mathematical modeling), fundamental analysis (which may include assessments of a company’s holdings or key characteristics, as well as broader economic factors) and experienced judgment. The Adviser searches for companies it believes are attractively priced relative to historical valuation, peer groups, and the market, concentrating most on cash flow capability over time. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund expects to only invest in securities of companies whose stock is traded on U.S. markets, including depositary receipts or shares issued by companies incorporated outside of the United States (e.g., ADRs). </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Stocks may be sold when conditions have changed and the company’s prospects are no longer attractive, its stock price has achieved the team’s valuation target or better relative investment opportunities have been identified. </p> </td> </tr> </table> Risk is inherent in all investing, and you could lose money by investing in the Fund. <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_910_ecustom--SmallCompanyRiskMember_zdCikZGmRR78">Small Company Risk</span>: </i>The Fund is subject to the general risk that the stocks of smaller and newer companies can involve greater risks than those associated with larger, more established companies. Small company stocks may be subject to more abrupt or erratic price movements due to a number of reasons, including that the stocks are traded in lower volume and that the issuers are more sensitive to changing conditions and have less certain growth prospects. Small companies in which the Fund may invest typically lack the financial resources, product diversification, and competitive strengths of larger companies which may cause the value of the Fund to be more volatile. Small companies may be more thinly traded than larger, more established companies. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Market Risk:</i> As with any fund, the value of your investment will fluctuate over time in response to overall movements in the stock market. Further, investments in common stocks tend to be more volatile than many other investment choices. The value of a security or other asset may decline due to changes in general market conditions, economic trends or events that are not specifically related to the issuer of the security or other asset, or factors that affect a particular issuer or issuers, country, group of countries, region, market industry, group of industries, sector or asset class. Local, regional, or global events such as war, acts of terrorism, the spread of infections, illness or other public health issues, recessions, tariffs and other similar economic arrangements, or other events could have a significant impact on the Fund and its investments. During a general market downturn, multiple asset classes may be negatively affected. Changes in market conditions and interest rates generally do not have the same impact on all types of securities and instruments. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Equity Securities Risk:</i> Investments in common stocks and other equity securities are particularly subject to the risk of changing economic, stock market, industry and company conditions and the risks inherent in the ability to anticipate such changes that can adversely affect the value of portfolio holdings. Preferred stock is subject to the risk that the dividend on the stock may be changed or omitted by the issuer and that participation in the growth of an issuer may be limited. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Issuer Risk:</i> The value of a security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. The value of an issuer’s security may deteriorate because of a variety of factors, including, but not limited to, disappointing earnings reports by the issuer, unsuccessful products or services, loss of major customers, major litigation against the issuer or changes in government regulations affecting the issuer or the competitive environment. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Portfolio Management Risk: </i>The Fund is subject to the risk that the securities held by the Fund will underperform other securities and/or may decline in value. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_916_ecustom--IndustrialSectorRiskMember_zql55PgwEzfa">Industrial Sector Risk</span>:</i> The industrial sector can be significantly affected by, among other things, worldwide economic growth, supply and demand for specific products and services, rapid technological developments, international political and economic developments, environmental issues, tariffs and trade barriers, and tax and governmental regulatory policies. As the demand for, or prices of, industrials increase, the value of the Fund’s investments generally would be expected to also increase. Conversely, declines in the demand for, or prices of, industrials generally would be expected to contribute to declines in the value of such securities. Such declines may occur quickly and without warning and may negatively impact the value of the Fund and your investment. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Sector Focus Risk:</i> The Fund may, for finite periods and from time to time, make significant investments in a particular sector which may make the Fund more susceptible to adverse economic, business, regulatory or other developments affecting that sector. If an economic downturn occurs in a sector in which the Fund’s investments are focused, the Fund may perform poorly during that period. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Indirect Foreign Exposure Risk:</i> Investments in U.S.-traded securities that are organized under the laws of a foreign country or have significant business operations abroad may be impacted by certain foreign exposure risks indirectly. This includes securities in the form of sponsored and unsponsored depositary receipts. Unsponsored depositary receipts may be created without the participation of the foreign issuer. Holders of these depositary receipts generally bear all of the costs of the depositary facility and the bank or trust company depositary of an unsponsored depositary receipt may be under no obligation to distribute shareholder communications from the foreign issuer or to pass through voting rights. These risks will vary from time to time and from country to country, especially if the country is considered an emerging market or developing country. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>ADR and GDR Risk:</i> ADRs and GDRs may be subject to some of the same risks as direct investment in foreign companies, which includes international trade, currency, political, regulatory and diplomatic risks. In a sponsored ADR arrangement, the foreign issuer assumes the obligation to pay some or all of the Depository’s transaction fees. Under an unsponsored ADR arrangement, the foreign issuer assumes no obligations and the Depository’s transaction fees are paid directly by the ADR holders. Because unsponsored ADR arrangements are organized independently and without the cooperation of the issuer of the underlying securities, available information concerning the foreign issuer may not be as current as for sponsored ADRs and voting rights with respect to the deposited securities are not passed through. GDRs can involve additional currency risk since, unlike ADRs, they may not be U.S. Dollar-denominated. ADRs and GDRs may not trade at parity with the associated underlying security. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Cybersecurity Risk: </i>With the increased use of technologies such as the Internet to conduct business, the Fund is susceptible to operational, information security, and related risks. Cyber incidents affecting the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Fund’s ability to calculate its NAV, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs. </p> </td> </tr> </table> Bar Chart and Performance Table <p id="xdx_A82_eoef--PerformanceNarrativeTextBlock_zeUaviHFamv9" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">For periods prior to December 31, 2019, the performance shown below is for the Lower Wacker Small Cap Investment Fund, LLC, an unregistered limited partnership managed by the portfolio managers of the Fund (the “Small Cap Core Predecessor Fund”). The Small Cap Core Predecessor Fund was reorganized into the Institutional Class shares on December 31, 2019, the date that the Fund commenced operations. The Fund has been managed in the same style since the Small Cap Core Predecessor Fund’s inception on December 15, 2003. The Fund’s investment goals, policies, guidelines and restrictions are, in all material respects, equivalent to the Small Cap Core Predecessor Fund’s investment goals, policies, guidelines and restrictions. The Small Cap Core Predecessor Fund’s annual returns and long-term performance reflect the actual fees and expenses that were charged when the SBH Small Cap Core Fund was a limited partnership. The Small Cap Core Predecessor Fund’s performance is net of management fees and other expenses. From its inception on December 15, 2003, through December 31, 2019, the Small Cap Core Predecessor Fund was not subject to certain investment restrictions, diversification requirements and other restrictions of the Investment Company Act of 1940, as amended (the “1940 Act”) or Subchapter M of the Internal Revenue Code of 1986, as amended, which, if they had been applicable, might have adversely affected the Fund’s performance. </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_904_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260430__20260430__dei--LegalEntityAxis__custom--S000067438Member_zFSzoZGIVu6d">The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s Institutional Class performance from year to year, and by showing how the Fund’s average annual returns for one-, five- and ten-years (including performance of the Small Cap Core Predecessor Fund, as described above) compare with those of the Russell 3000^® Index, a broad-based securities market index, and the Russell 2000^® Index, an index more representative of the Fund’s investment strategy.</span> <span id="xdx_90A_eoef--PerformancePastDoesNotIndicateFuture_c20260430__20260430__dei--LegalEntityAxis__custom--S000067438Member_ziRlIwwkyUxf">The Fund’s past performance (including the Small Cap Core Predecessor Fund), before and after taxes, does not necessarily indicate how it will perform in the future.</span> Updated performance information is available on <span id="xdx_903_eoef--PerformanceAvailabilityWebSiteAddress_c20260430__20260430__dei--LegalEntityAxis__custom--S000067438Member_z2Hh3AnmC6Bh">https://cisbh.com/funds</span> or call toll-free <span id="xdx_90D_eoef--PerformanceAvailabilityPhone_c20260430__20260430__dei--LegalEntityAxis__custom--S000067438Member_zGmNs5MNHldl">(800) 392-2673</span>.</p> The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s Institutional Class performance from year to year, and by showing how the Fund’s average annual returns for one-, five- and ten-years (including performance of the Small Cap Core Predecessor Fund, as described above) compare with those of the Russell 3000® Index, a broad-based securities market index, and the Russell 2000® Index, an index more representative of the Fund’s investment strategy. The Fund’s past performance (including the Small Cap Core Predecessor Fund), before and after taxes, does not necessarily indicate how it will perform in the future. https://cisbh.com/funds (800) 392-2673 SBH Small Cap Core Fund Institutional Class - Calendar Year Total Returns as of December 31 (%) 0.1481 0.1498 -0.0519 0.2723 0.2280 0.2348 -0.1312 0.1394 0.1191 0.0396 <div id="xdx_A8B_eoef--BarChartClosingTextBlock_zPgSWS4899V4"></div> <table cellpadding="2" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="background-color: Gainsboro"> <td style="vertical-align: top; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_904_eoef--HighestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000067438Member__oef--ClassAxis__custom--C000216811Member_zDmW6GypDVRb">Highest Quarterly Return:</span></b><span style="font-weight: normal; font-style: normal"> <span id="xdx_90A_eoef--BarChartHighestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000067438Member__oef--ClassAxis__custom--C000216811Member_zUtb871Ojltl">12/31/2020</span> <span id="xdx_908_eoef--BarChartHighestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000067438Member__oef--ClassAxis__custom--C000216811Member_zPUFiJ4zZyRe">24.17%</span> </span></p></td> <td style="vertical-align: top; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_901_eoef--LowestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000067438Member__oef--ClassAxis__custom--C000216811Member_zAjAzQFGt3Y9">Lowest Quarterly Return:</span></b><span style="font-weight: normal; font-style: normal"> <span id="xdx_90F_eoef--BarChartLowestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000067438Member__oef--ClassAxis__custom--C000216811Member_zgr97YhA9ca3">3/31/2020</span> <span id="xdx_908_eoef--BarChartLowestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000067438Member__oef--ClassAxis__custom--C000216811Member_zPFPByuVxq9i">(23.70)%</span></span></p></td> </tr> </table> Highest Quarterly Return: 2020-12-31 0.2417 Lowest Quarterly Return: 2020-03-31 -0.2370 Average Annual Total Returns (for the Periods Ended December 31, 2025) <p id="xdx_A87_eoef--PerformanceTableNarrativeTextBlock_zlVqi3M8HlT4" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_902_eoef--PerformanceTableUsesHighestFederalRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000067438Member_zOIg6nhMS2ok">After-tax returns for the Institutional Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</span> Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. <span id="xdx_903_eoef--PerformanceTableOneClassOfAfterTaxShown_c20260430__20260430__dei--LegalEntityAxis__custom--S000067438Member_zQHwwFf3aAt9">After-tax returns are shown only for the Institutional Class, after-tax returns for the Retail Class will be different.</span> <span id="xdx_907_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260430__20260430__dei--LegalEntityAxis__custom--S000067438Member_zYK9yn1d0vi2">After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts.</span> </p> After-tax returns for the Institutional Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown only for the Institutional Class, after-tax returns for the Retail Class will be different. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts. 0.0396 0.0730 0.1077 0.0268 0.0553 0.0986 0.0330 0.0547 0.0880 0.0385 0.0714 0.1061 0.1281 0.0609 0.0962 0.1715 0.1315 0.1429 Segall Bryant & Hamill All Cap Fund Investment Objective <p id="xdx_A8F_eoef--ObjectivePrimaryTextBlock_zrxfJdr2a413" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Segall Bryant &amp; Hamill All Cap Fund (the “SBH All Cap Fund” or “Fund”) seeks to achieve long-term capital appreciation. </p> Fees and Expenses of the Fund <p id="xdx_A8F_eoef--ExpenseNarrativeTextBlock_zifvCWjbB9vg" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. <b>You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</b> </p> Shareholder Fees (fees paid directly from your investment) 12.00 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0065 0.0065 0 0 0.0142 0.0032 0.0025 0.0010 0.0117 0.0022 0.0207 0.0097 -0.0108 -0.0013 0.0099 0.0084 April 30, 2027 Example <p id="xdx_A88_eoef--ExpenseExampleNarrativeTextBlock_zMa2uWkHba6e" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in either the Retail Class shares or the Institutional Class shares of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s total annual operating expenses remain the same. This Example reflects the net operating expenses with expense waivers for the one-year contractual period and the total operating expenses without expense waivers for years two through ten. </p> Although your actual costs may be higher or lower, based on these assumptions your costs would be: 101 544 1014 2314 86 296 524 1178 <p id="xdx_A85_eoef--ExpenseExampleNoRedemptionNarrativeTextBlock_zhUhiWVl9uO6" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">Your expenses would be the same if you did not redeem your shares. </p> Portfolio Turnover <p id="xdx_A87_eoef--PortfolioTurnoverTextBlock_zSiBOCJZsvai" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. A higher turnover rate may also result in higher taxes when Fund shares are held in a taxable account. During the most recent fiscal year, the portfolio turnover rate of the Fund was <span id="xdx_904_eoef--PortfolioTurnoverRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000065429Member_zKzoLRCsR585">34%</span> of the average value of its portfolio. </p> 0.34 Principal Investment Strategies of the Fund <div id="xdx_A8C_eoef--StrategyNarrativeTextBlock_z5yl9XfR63V6"></div> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Under normal circumstances, the Fund will invest at least 80% of its net assets (including amounts borrowed for investment purposes) in equity securities of companies of any size, including small- and mid-capitalization companies. The Fund will primarily invest in common stock of companies traded on U.S. exchanges with market capitalization in excess of $1 billion. The Russell 3000^® Index is the Fund’s benchmark which represents a broad-based U.S. equity index. The Russell Midcap^® Index and the Russell 2000^® Index are indices which include companies with market capitalizations within the mid-cap and small-cap universe. The Fund will, under normal circumstances, invest at least 35% of its net assets in common stock of companies with market capitalizations similar in size to companies within the Russell Midcap^® Index and Russell 2000^® Index. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Adviser invests the Fund’s assets opportunistically based on market information and does not limit its investment analysis approach to value, growth, or core investment styles. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Adviser believes that returns in excess of general market returns can be achieved by actively managing investment portfolios. The Fund invests in companies that the Adviser believes have superior growth potential and are trading at a discount to the Adviser’s estimate of the companies’ intrinsic value. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Adviser’s investment process is driven by fundamental research utilizing a combination of external and proprietary research in its selection process. Through a combination of quantitative analysis (which may encompass techniques such as evaluation of financial data or statistical/mathematical modeling), fundamental analysis (which may include assessments of a company’s holdings or key characteristics, as well as broader economic factors) and experienced judgment, the Adviser seeks to identify companies that have historically generated, or are positioned to generate, superior returns on investments. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund expects to only invest in securities of companies whose stock is traded on U.S. markets, including depositary receipts or shares issued by companies incorporated outside of the United States (e.g., ADRs). </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Stocks may be sold when conditions have changed and the company’s prospects are no longer attractive, its stock price has achieved the team’s valuation target or better relative investment opportunities have been identified. </p> </td> </tr> </table> Risk is inherent in all investing, and you could lose money by investing in the Fund. <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_91E_ecustom--MarketCapitalizationRiskMember_zrb5V8GCuns2">Market Capitalization Risk</span>: </i>To the extent a Fund invests in securities issued by small-, medium- or large capitalization companies, it will be subject to the risks associated with securities issued by companies of the applicable market capitalization. Securities issued by companies of different market capitalizations tend to go in and out of favor based on market and economic conditions. During a period when securities of a particular market capitalization underperform other types of investments, a Fund’s performance could be adversely impacted. The small- and medium-sized companies in which the Fund may invest may be more vulnerable to adverse business or economic events than larger, more established companies. In particular, these small- and medium-sized companies may pose additional risks, including liquidity risk, because these companies tend to have limited product lines, markets, and financial resources, and may depend upon a relatively small management group. Therefore, small- and medium-sized stocks may be more volatile than those of larger companies. Small- and medium-sized companies may be more thinly traded than larger, more established companies. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Market Risk:</i> As with any fund, the value of your investment will fluctuate over time in response to overall movements in the stock market. Further, investments in common stocks tend to be more volatile than many other investment choices. The value of a security or other asset may decline due to changes in general market conditions, economic trends or events that are not specifically related to the issuer of the security or other asset, or factors that affect a particular issuer or issuers, country, group of countries, region, market industry, group of industries, sector or asset class. Local, regional, or global events such as war, acts of terrorism, the spread of infections, illness or other public health issues, recessions, </p> </td> </tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 31.5pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">tariffs and other similar economic arrangements, or other events could have a significant impact on the Fund and its investments. During a general market downturn, multiple asset classes may be negatively affected. Changes in market conditions and interest rates generally do not have the same impact on all types of securities and instruments. </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Equity Securities Risk:</i> Investments in common stocks and other equity securities are particularly subject to the risk of changing economic, stock market, industry and company conditions and the risks inherent in the ability to anticipate such changes that can adversely affect the value of portfolio holdings. Preferred stock is subject to the risk that the dividend on the stock may be changed or omitted by the issuer and that participation in the growth of an issuer may be limited. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Issuer Risk:</i> The value of a security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. The value of an issuer’s security may deteriorate because of a variety of factors, including, but not limited to, disappointing earnings reports by the issuer, unsuccessful products or services, loss of major customers, major litigation against the issuer or changes in government regulations affecting the issuer or the competitive environment. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Portfolio Management Risk:</i> The Fund is subject to the risk that the securities held by the Fund will underperform other securities and/or may decline in value. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_912_ecustom--InformationTechnologySectorRiskMember_zy9p3lMpNrCg">Information Technology Sector Risk</span>:</i> Information technology companies face intense competition, both domestically and internationally, which may have an adverse effect on profit margins. Like other technology companies, information technology companies may have limited product lines, markets, financial resources or personnel. The products of information technology companies may face obsolescence due to rapid technological developments, frequent new product introduction, unpredictable changes in growth rates and competition for the services of qualified personnel. Companies in the information technology sector are heavily dependent on patent and intellectual property rights. The loss, or impairment of, or inability to enforce, these rights may adversely affect the profitability of these companies. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Sector Focus Risk:</i> The Fund may, for finite periods and from time to time, make significant investments in a particular sector which may make the Fund more susceptible to adverse economic, business, regulatory or other developments affecting that sector. If an economic downturn occurs in a sector in which the Fund’s investments are focused, the Fund may perform poorly during that period. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Indirect Foreign Exposure Risk: </i>Investments in U.S.-traded securities that are organized under the laws of a foreign country or have significant business operations abroad may be impacted by certain foreign exposure risks indirectly. This includes securities in the form of sponsored and unsponsored depositary receipts. Unsponsored depositary receipts may be created without the participation of the foreign issuer. Holders of these depositary receipts generally bear all of the costs of the depositary facility and the bank or trust company depositary of an unsponsored depositary receipt may be under no obligation to distribute shareholder communications from the foreign issuer or to pass through voting rights. These risks will vary from time to time and from country to country, especially if the country is considered an emerging market or developing country. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>ADR and GDR Risk: </i>ADRs and GDRs may be subject to some of the same risks as direct investment in foreign companies, which includes international trade, currency, political, regulatory and diplomatic risks. In a sponsored ADR arrangement, the foreign issuer assumes the obligation to pay some or all of the Depository’s transaction fees. Under an unsponsored ADR arrangement, the foreign issuer assumes no obligations and the Depository’s transaction fees are paid directly by the ADR holders. Because unsponsored ADR arrangements are organized independently and without the cooperation of the issuer of the underlying securities, available information concerning the foreign issuer may not be as current as for sponsored ADRs and voting rights with respect to the deposited securities are not passed through. GDRs can involve additional currency risk since, unlike ADRs, they may not be U.S. Dollar-denominated. ADRs and GDRs may not trade at parity with the associated underlying security. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Cybersecurity Risk: </i>With the increased use of technologies such as the Internet to conduct business, the Fund is susceptible to operational, information security, and related risks. Cyber incidents affecting the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Fund’s ability to calculate its NAV, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs. </p> </td> </tr> </table> Bar Chart and Performance Tables <p id="xdx_A86_eoef--PerformanceNarrativeTextBlock_zHQQQZGxanv5" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Fund acquired the assets of the Segall Bryant &amp; Hamill All Cap Fund, a series portfolio of Investment Managers Series Trust, on December 9, 2019 (the “Predecessor Fund”). The Predecessor Fund was also advised by CI SBH Asset Management. Performance results shown for the Institutional Class in the bar chart and the performance table below for periods prior to the reorganization reflect the performance of the Predecessor Fund. Institutional Class shares’ returns of the Fund will be different from the Predecessor Fund as they have different expenses. </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_90D_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260430__20260430__dei--LegalEntityAxis__custom--S000065429Member_zJ1l0m0ulbg8">The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s performance from year to year, and by showing how the Fund’s average annual returns for one-, five-, and ten-years (including performance of the Predecessor Fund, as described above), compare with those of a broad-based securities market index.</span> <span id="xdx_906_eoef--PerformancePastDoesNotIndicateFuture_c20260430__20260430__dei--LegalEntityAxis__custom--S000065429Member_zuE3k098kcua">The Fund’s past performance (including the Predecessor Fund’s past performance), before and after taxes, is not necessarily an indication of how the Fund will perform in the future.</span> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">Updated performance information is available on <span id="xdx_907_eoef--PerformanceAvailabilityWebSiteAddress_c20260430__20260430__dei--LegalEntityAxis__custom--S000065429Member_zikeQykP0WD8">https://cisbh.com/funds</span> or call toll-free <span id="xdx_905_eoef--PerformanceAvailabilityPhone_c20260430__20260430__dei--LegalEntityAxis__custom--S000065429Member_zee4UwvYdffc">(800) 392-2673</span>. </p> The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s performance from year to year, and by showing how the Fund’s average annual returns for one-, five-, and ten-years (including performance of the Predecessor Fund, as described above), compare with those of a broad-based securities market index. The Fund’s past performance (including the Predecessor Fund’s past performance), before and after taxes, is not necessarily an indication of how the Fund will perform in the future. https://cisbh.com/funds (800) 392-2673 SBH All Cap Fund Institutional Class - Calendar Year Total Returns as of December 31 (%) 0.0621 0.1869 -0.0556 0.3060 0.2618 0.2955 -0.1921 0.1448 0.1689 0.0829 <div id="xdx_A81_eoef--BarChartClosingTextBlock_zBwQhXgpdzR"></div> <table cellpadding="2" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="background-color: Gainsboro"> <td style="vertical-align: top; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_904_eoef--HighestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000065429Member__oef--ClassAxis__custom--C000211582Member_zz8lVmN5ZSh4">Highest Quarterly Return:</span> </b><span style="font-weight: normal; font-style: normal"><span id="xdx_90F_eoef--BarChartHighestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000065429Member__oef--ClassAxis__custom--C000211582Member_zYxBmU5Nwk1l">6/30/2020</span> <span id="xdx_907_eoef--BarChartHighestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000065429Member__oef--ClassAxis__custom--C000211582Member_z8FyP2LDr3Ue">24.00%</span></span></p></td> <td style="vertical-align: top; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_90B_eoef--LowestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000065429Member__oef--ClassAxis__custom--C000211582Member_zN7ugZ75QAUg">Lowest Quarterly Return:</span></b><span style="font-weight: normal; font-style: normal"> <span id="xdx_906_eoef--BarChartLowestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000065429Member__oef--ClassAxis__custom--C000211582Member_zixh9pWLdmLk">3/31/2020</span> <span id="xdx_908_eoef--BarChartLowestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000065429Member__oef--ClassAxis__custom--C000211582Member_zz0fWgk3ukz3">(17.65)%</span> </span></p></td> </tr> </table> Highest Quarterly Return: 2020-06-30 0.2400 Lowest Quarterly Return: 2020-03-31 -0.1765 Average Annual Total Returns (for the Periods Ended December 31, 2025) <p id="xdx_A84_eoef--PerformanceTableNarrativeTextBlock_zMb5d7Gzf3gb" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_90D_eoef--PerformanceTableUsesHighestFederalRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000065429Member_zytJlwIS16og">After-tax returns for the Institutional Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</span> Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. <span id="xdx_90A_eoef--PerformanceTableOneClassOfAfterTaxShown_c20260430__20260430__dei--LegalEntityAxis__custom--S000065429Member_zMrZPJFCff5a">After-tax returns are shown only for the Institutional Class, after-tax returns for the Retail Class will be different.</span> <span id="xdx_90F_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260430__20260430__dei--LegalEntityAxis__custom--S000065429Member_zlsm6qHqjyVj">After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts. </span></p> After-tax returns for the Institutional Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown only for the Institutional Class, after-tax returns for the Retail Class will be different. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts. 0.0829 0.0869 0.1152 0.0246 0.0541 0.0967 0.0914 0.0657 0.0937 0.0832 0.0867 0.1144 0.1715 0.1315 0.1429 SEGALL BRYANT & HAMILL EMERGING MARKETS FUND Investment Objective <p id="xdx_A8C_eoef--ObjectivePrimaryTextBlock_zfBioW3l6IU4" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Segall Bryant &amp; Hamill Emerging Markets Fund (the “SBH Emerging Markets Fund” or “Fund”) seeks to achieve long-term capital appreciation. </p> Fees and Expenses of the Fund <p id="xdx_A8E_eoef--ExpenseNarrativeTextBlock_zJpJCIt3sQYc" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. <b>You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</b> </p> Shareholder Fees (fees paid directly from your investment) 12.00 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0090 0.0090 0 0 0.0120 0.0078 0.0025 0.0010 0.0095 0.0068 0.0210 0.0168 -0.0096 -0.0069 0.0114 0.0099 April 30, 2027 Example <p id="xdx_A87_eoef--ExpenseExampleNarrativeTextBlock_zmeRs54HWMC8" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in either the Retail Class shares or the Institutional Class shares of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s total annual operating expenses remain the same. This Example reflects the net operating expenses with expense waivers for the one-year contractual period and the total operating expenses without expense waivers for years two through ten. </p> Although your actual costs may be higher or lower, based on these assumptions your costs would be: 116 565 1041 2355 101 462 848 1929 <p id="xdx_A8D_eoef--ExpenseExampleNoRedemptionNarrativeTextBlock_zCVwpJiiFLb3" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">Your expenses would be the same if you did not redeem your shares. </p> Portfolio Turnover <p id="xdx_A83_eoef--PortfolioTurnoverTextBlock_zs9XBGFxbCu1" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. A higher turnover rate may also result in higher taxes when Fund shares are held in a taxable account. During the most recent fiscal year, the portfolio turnover rate of the Fund was <span id="xdx_904_eoef--PortfolioTurnoverRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000065430Member_zyVYs3LXSiUg">88%</span> of the average value of its portfolio. </p> 0.88 Principal Investment Strategies of the Fund <div id="xdx_A84_eoef--StrategyNarrativeTextBlock_zDUo5pEGbrzc"></div> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Under normal circumstances, the Fund will invest at least 80% of its net assets (including amounts borrowed for investment purposes) in equity securities, primarily common stock, of companies tied economically to emerging markets countries. The Fund’s Adviser considers emerging markets countries to be those countries included in the MSCI Emerging Markets Index, which, as of February 28, 2026, consisted of Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Kuwait, Malaysia, Mexico, Peru, Philippines, Poland, Qatar, Saudi Arabia, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates. If the countries composing the MSCI Emerging Markets Index change, the Fund’s Adviser will similarly adjust its criteria to reflect any such change. The Fund’s Adviser considers a company to be tied economically to a particular country if: (i) it is organized under the laws of that country or maintains its principal offices or headquarters in that country; (ii) its securities are principally traded in that country; or (iii) it derives at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed in that country, or has at least 50% of its assets in that country. The Fund will allocate its assets among various regions and countries. The Fund may invest in companies of any size market capitalization. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund may purchase equity securities on exchanges where companies are located, and on exchanges other than where companies are domiciled (often traded as dual listed securities) or in the form of Depository Receipts, which include American Depository Receipts (“ADRs”), Global Depository Receipts (“GDRs”) or similar securities. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund may also purchase participatory notes (commonly known as “P-notes”) issued by foreign banks or brokers evidencing ownership of underlying stocks issued by a foreign company. This type of investment allows the Fund to have exposure to foreign securities without trading directly in the local market. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund’s Adviser uses proprietary quantitative models to evaluate and select countries and securities for the Fund’s portfolio. The Fund’s Adviser evaluates and selects securities based on value, momentum and profitability models. The Fund may engage in active and frequent trading. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Stocks may be sold when conditions have changed and the company’s prospects are no longer attractive, its stock price has achieved the team’s valuation target or better relative investment opportunities have been identified. </p> </td> </tr> </table> Risk is inherent in all investing, and you could lose money by investing in the Fund. <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Market Risk: </i>As with any fund, the value of your investment will fluctuate over time in response to overall movements in the stock market. Further, investments in common stocks tend to be more volatile than many other investment choices. The value of a security or other asset may decline due to changes in general market conditions, economic trends or events that are not specifically related to the issuer of the security or other asset, or factors that affect a particular issuer or issuers, country, group of countries, region, market industry, group of industries, sector or asset class. Local, regional, or global events such as war, acts of terrorism, the spread of infections, illness or other public health issues, recessions, tariffs and other similar economic arrangements, or other events could have a significant impact on the Fund and its investments. During a general market downturn, multiple asset classes may be negatively affected. Changes in market conditions and interest rates generally do not have the same impact on all types of securities and instruments. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Equity Securities Risk: </i>Investments in common stocks and other equity securities are particularly subject to the risk of changing economic, stock market, industry and company conditions and the risks inherent in the ability to anticipate such changes that can adversely affect the value of portfolio holdings. Preferred stock is subject to the risk that the dividend on the stock may be changed or omitted by the issuer and that participation in the growth of an issuer may be limited. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Issuer Risk: </i>The value of a security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. The value of an issuer’s security may deteriorate because of a variety of factors, including, but not limited to, disappointing earnings reports by the issuer, unsuccessful products or services, loss of major customers, major litigation against the issuer or changes in government regulations affecting the issuer or the competitive environment. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_91A_ecustom--CountryRiskMember_znssbIVpsVz3">Country Risk</span>:</i> The Fund may, for finite periods and from time to time, focus its investments in companies that are in a single country or a small number of countries. Focusing investments in a small number of countries may make the Fund more susceptible to currency fluctuations and adverse economic, business, regulatory or other developments affecting that country or group of countries. If an economic downturn occurs in a country in which the Fund’s investments are focused, the Fund may perform poorly during that period. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_910_ecustom--CurrencyRiskMember_zqR5rMIdcJid">Currency Risk</span>: </i>The values of investments in securities denominated in foreign currencies increase or decrease as the rates of exchange between those currencies and the U.S. Dollar change. Currency conversion costs and currency fluctuations could erase investment gains or add to investment losses. Currency exchange rates can be volatile and are affected by factors such as general economic conditions, the actions of the United States and foreign governments or central banks, the imposition of currency controls, and speculation. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_912_ecustom--EmergingMarketRiskMember_zWBK766Go0vl">Emerging Market Risk</span>: </i>Many of the risks with respect to foreign investments are more pronounced for investments in issuers in developing or emerging market countries. Emerging market countries tend to have more government exchange controls, more volatile interest and currency exchange rates, less market regulation, and less developed economic, political and legal systems than those of more developed countries. In addition, emerging market countries may experience high levels of inflation and may have less liquid securities markets and less efficient trading and settlement systems. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_91C_ecustom--ChinaRiskMember_zthzi7TUY1Qh">China Risk</span>:</i> Investments in Chinese issuers subject the Fund to risks specific to the China region. Political, social or economic disruptions in China and surrounding countries, even in countries in which the Fund is not invested, may adversely affect security values in China and thus the Fund’s investments. At times, religious, cultural and military disputes within and outside China have caused volatility in the China securities markets and such disputes could adversely affect the value and liquidity of the Fund’s investments. China remains a totalitarian country with continuing risk of nationalization, expropriation, or confiscation of property. Each of these risks could increase the Fund’s volatility. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_911_ecustom--ForeignSecuritiesRiskMember_zo6SWNucbsr6">Foreign Securities Risk</span>: </i>The Fund may invest in non-U.S.-traded securities. There are risks and costs involved in investing in non-U.S.-traded securities which are in addition to the usual risks inherent in securities that trade on a U.S. exchange. These risks will vary from time to time and from country to country, especially if the country is considered an emerging market or developing country and may be different from or greater than the risks associated with investing in developed countries. These risks may include, but are not limited to, higher transaction costs, the imposition of additional foreign taxes, less market liquidity, security registration requirements, and less comprehensive security settlement procedures and regulations, significant currency devaluation relative to the U.S. dollar, restrictions on the Fund’s ability to repatriate investment income or capital, less government regulation and supervision, less public information, less economic, political and social stability, and adverse changes in diplomatic relations between the United States and that foreign country. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_917_ecustom--ValueInvestingRiskMember_zHWAmI01xyC4">Value Investing Risk</span>: </i>The value approach carries the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock considered to be undervalued may actually be appropriately priced. A portfolio may underperform other equity portfolios that use different investing styles. A portfolio may also underperform other equity portfolios using the value style. Value stocks as a group may be out of favor and underperform the overall equity market for a long period of time, for example, while the market favors “growth” stocks. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Portfolio Management Risk:</i> The Fund is subject to the risk that the securities held by the Fund will underperform other securities and/or may decline in value. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_918_ecustom--QuantitativeModelingRiskMember_z1X3BnVNcFY8">Quantitative Modeling Risk</span>: </i>Quantitative models, including stock and country selection ranking models, use mathematical and statistical techniques to identify investment opportunities and may not yield the desired goals. The accuracy of the quantitative model depends on the quality and reliability of the data used for analysis. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Sector Focus Risk:</i> The Fund may, for finite periods and from time to time, make significant investments in a particular sector which may make the Fund more susceptible to adverse economic, business, regulatory or other developments affecting that sector. If an economic downturn occurs in a sector in which the Fund’s investments are focused, the Fund may perform poorly during that period. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>ADR and GDR Risk:</i> ADRs and GDRs may be subject to some of the same risks as direct investment in foreign companies, which includes international trade, currency, political, regulatory and diplomatic risks. In a sponsored ADR arrangement, the foreign issuer assumes the obligation to pay some or all of the Depository’s transaction fees. Under an unsponsored ADR arrangement, the foreign issuer assumes no obligations and the Depository’s transaction fees are paid directly by </p> </td> </tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 31.5pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">the ADR holders. Because unsponsored ADR arrangements are organized independently and without the cooperation of the issuer of the underlying securities, available information concerning the foreign issuer may not be as current as for sponsored ADRs and voting rights with respect to the deposited securities are not passed through. GDRs can involve additional currency risk since, unlike ADRs, they may not be U.S. Dollar-denominated. ADRs and GDRs may not trade at parity with the associated underlying security. </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Cybersecurity Risk: </i>With the increased use of technologies such as the Internet to conduct business, the Fund is susceptible to operational, information security, and related risks. Cyber incidents affecting the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Fund’s ability to calculate its NAV, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs. </p> </td> </tr> </table> Bar Chart and Performance Tables <p id="xdx_A8C_eoef--PerformanceNarrativeTextBlock_zHn4t43tmAr7" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Fund acquired the assets of the Segall Bryant &amp; Hamill Emerging Markets Fund, a series portfolio of Investment Managers Series Trust, on December 9, 2019, (the “Emerging Markets Predecessor Fund”). The Emerging Markets Predecessor Fund was also advised by CI SBH Asset Management. On October 30, 2015, the Emerging Markets Predecessor Fund acquired the assets and liabilities of the Philadelphia Emerging Markets Fund (the “Philadelphia Predecessor Fund”) (together, with the Emerging Markets Predecessor Fund, the “Predecessor Funds”). </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">For periods from October 31, 2015, to December 9, 2019, performance results shown in the bar chart and the performance table below for the Fund’s Retail Class shares and Institutional Class shares reflect the performance of the Emerging Markets Predecessor Fund. </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_90E_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260430__20260430__dei--LegalEntityAxis__custom--S000065430Member_zCN2W3p1ec8h">The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund performance from year to year, and by showing how the Fund’s average annual returns for one-, five-, and ten-years (including performance of the Predecessor Funds, as described above), compare with those of the MSCI ACWI ex-USA Investable Market Index, a broad-based securities market index, and the MSCI Emerging Markets Index, an index more representative of the Fund’s investment strategy an unmanaged index of securities.</span> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_905_eoef--PerformancePastDoesNotIndicateFuture_c20260430__20260430__dei--LegalEntityAxis__custom--S000065430Member_zgtLQqNMQG8a">The Fund’s past performance (before and after taxes) does not necessarily indicate how it will perform in the future.</span> Updated performance information is available on <span id="xdx_904_eoef--PerformanceAvailabilityWebSiteAddress_c20260430__20260430__dei--LegalEntityAxis__custom--S000065430Member_zrx0qkRKeZia">https://cisbh.com/funds</span> or call toll-free <span id="xdx_902_eoef--PerformanceAvailabilityPhone_c20260430__20260430__dei--LegalEntityAxis__custom--S000065430Member_zDRrQLAL2Jc6">(800) 392-2673</span>. </p> The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund performance from year to year, and by showing how the Fund’s average annual returns for one-, five-, and ten-years (including performance of the Predecessor Funds, as described above), compare with those of the MSCI ACWI ex-USA Investable Market Index, a broad-based securities market index, and the MSCI Emerging Markets Index, an index more representative of the Fund’s investment strategy an unmanaged index of securities. The Fund’s past performance (before and after taxes) does not necessarily indicate how it will perform in the future. https://cisbh.com/funds (800) 392-2673 SBH Emerging Markets Fund Institutional Class - Calendar Year Total Returns as of December 31 (%) 0.1411 0.3608 -0.1705 0.1881 0.0718 0.0549 -0.1608 0.2060 0.1388 0.3515 <div id="xdx_A82_eoef--BarChartClosingTextBlock_zNCT2WSFZcM7"></div> <table cellpadding="2" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="background-color: Gainsboro"> <td style="vertical-align: top; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_907_eoef--HighestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000065430Member__oef--ClassAxis__custom--C000211584Member_zgFTxeNag06g">Highest Quarterly Return:</span></b><span style="font-weight: normal; font-style: normal"> <span id="xdx_900_eoef--BarChartHighestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000065430Member__oef--ClassAxis__custom--C000211584Member_zSQtXYJmFzK5">6/30/2020</span> <span id="xdx_90A_eoef--BarChartHighestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000065430Member__oef--ClassAxis__custom--C000211584Member_zjz7CtauYNr2">16.82%</span></span></p></td> <td style="vertical-align: top; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_90D_eoef--LowestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000065430Member__oef--ClassAxis__custom--C000211584Member_zKGiIwEx9Bqb">Lowest Quarterly Return:</span></b><span style="font-weight: normal; font-style: normal"> <span id="xdx_901_eoef--BarChartLowestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000065430Member__oef--ClassAxis__custom--C000211584Member_zgepJRO3ogX5">3/31/2020</span> <span id="xdx_902_eoef--BarChartLowestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000065430Member__oef--ClassAxis__custom--C000211584Member_zYBrXec3aLXk">(26.12)%</span></span></p></td> </tr> </table> Highest Quarterly Return: 2020-06-30 0.1682 Lowest Quarterly Return: 2020-03-31 -0.2612 Average Annual Total Returns (for the Periods Ended December 31, 2025) <p id="xdx_A81_eoef--PerformanceTableNarrativeTextBlock_zeQtk9Y9Aur" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_90D_eoef--PerformanceTableUsesHighestFederalRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000065430Member_zx5zUr1N27F1">After-tax returns for the Institutional Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</span> Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. <span id="xdx_90D_eoef--PerformanceTableOneClassOfAfterTaxShown_c20260430__20260430__dei--LegalEntityAxis__custom--S000065430Member_z1bAhvbA6yZk">After-tax returns are shown only for the Institutional Class, after-tax returns for the Retail Class will be different.</span> <span id="xdx_903_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260430__20260430__dei--LegalEntityAxis__custom--S000065430Member_zSbEjdvgVTUe">After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts. </span></p> After-tax returns for the Institutional Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown only for the Institutional Class, after-tax returns for the Retail Class will be different. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts. 0.3515 0.1045 0.1042 0.3442 0.0943 0.0949 0.2155 0.0816 0.0837 0.3490 0.1026 0.1020 0.3357 0.0420 0.0842 0.3196 0.0777 0.0837 SEGALL BRYANT & HAMILL INTERNATIONAL SMALL CAP FUND Investment Objective <p id="xdx_A8E_eoef--ObjectivePrimaryTextBlock_z48YaEvDnRFf" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Segall Bryant &amp; Hamill International Small Cap Fund (the “SBH International Small Cap Fund” or “Fund”) seeks to achieve long-term capital appreciation. </p> Fees and Expenses of the Fund <p id="xdx_A80_eoef--ExpenseNarrativeTextBlock_z4vhVSFF9KCg" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. <b>You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. </b></p> Shareholder Fees (fees paid directly from your investment) 12.00 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0090 0.0090 0 0 0.0090 0.0059 0.0025 0.0010 0.0065 0.0049 0.0180 0.0149 -0.0060 -0.0044 0.0120 0.0105 April 30, 2027 Example <p id="xdx_A8C_eoef--ExpenseExampleNarrativeTextBlock_z9ZQ6fWYjcI7" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in either the Retail Class shares or the Institutional Class shares of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">your investment has a 5% return each year and that the Fund’s total annual operating expenses remain the same. This Example reflects the net operating expenses with expense waivers for the one-year contractual period and the total operating expenses without expense waivers for years two through ten. </p> Although your actual costs may be higher or lower, based on these assumptions your costs would be: 122 508 919 2067 107 428 771 1742 <p id="xdx_A8E_eoef--ExpenseExampleNoRedemptionNarrativeTextBlock_zzFWP8UW3nf4" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">Your expenses would be the same if you did not redeem your shares. </p> Portfolio Turnover <p id="xdx_A8D_eoef--PortfolioTurnoverTextBlock_zrjIa8tigoI8" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. A higher turnover rate may also result in higher taxes when Fund shares are held in a taxable account. During the most recent fiscal year, the portfolio turnover rate of the Fund was <span id="xdx_909_eoef--PortfolioTurnoverRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000065431Member_zaH1yof3s1Zh">105%</span> of the average value of its portfolio. </p> 1.05 Principal Investment Strategies of the Fund <div id="xdx_A8F_eoef--StrategyNarrativeTextBlock_zHX0X9DQd34i"></div> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Under normal circumstances, the Fund will invest at least 80% of its net assets (including amounts borrowed for investment purposes) in equity securities, primarily common stock, of small capitalization companies located outside of the United States, including those in emerging markets. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund’s Adviser considers small capitalization companies to be companies with market capitalizations within the range of those companies included in the MSCI EAFE Small Cap Index at the time of purchase. Investments in companies that move above or below the capitalization range of the MSCI EAFE Small Cap Index may continue to be held by the Fund in the Fund adviser’s sole discretion. As of February 27, 2026, the market capitalization of companies included in the MSCI EAFE Small Cap Index was between $43.2 million and $14.6 billion. The Fund’s Adviser will consider the market capitalization range by country. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund’s Adviser considers a company to be outside of the United States if: (i) it is organized under the laws of a foreign country or maintains its principal offices or headquarters in a foreign country; (ii) its securities are principally traded in a foreign country; or (iii) it derives at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed in a foreign country, or has at least 50% of its assets in a foreign country. The Fund will allocate its assets among various regions and countries including those in emerging markets. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund may purchase equity securities on exchanges where the companies are located, on exchanges other than where companies are domiciled (often traded as dual listed securities) or in the form of Depository Receipts, which include American Depository Receipts (“ADRs”), Global Depository Receipts (“GDRs”) or similar securities. The Fund may also purchase participatory notes (commonly known as “P-notes”) issued by foreign banks or brokers evidencing ownership of underlying stocks issued by a foreign company. This type of investment allows the Fund to have exposure to foreign securities without trading directly in the local market. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund’s Adviser uses proprietary quantitative models to evaluate and select countries and securities for the Fund’s portfolio. The Fund’s Adviser evaluates and selects securities based on value, momentum and profitability models. The Fund may engage in active and frequent trading. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Stocks may be sold when conditions have changed and the company’s prospects are no longer attractive, its stock price has achieved the team’s valuation target or better relative investment opportunities have been identified. </p> </td> </tr> </table> Risk is inherent in all investing, and you could lose money by investing in the Fund. <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Market Risk:</i> As with any fund, the value of your investment will fluctuate over time in response to overall movements in the stock market. Further, investments in common stocks tend to be more volatile than many other investment choices. The value of a security or other asset may decline due to changes in general market conditions, economic trends or events that are not specifically related to the issuer of the security or other asset, or factors that affect a particular issuer or issuers, country, group of countries, region, market industry, group of industries, sector or asset class. Local, regional, or global events such as war, acts of terrorism, the spread of infections, illness or other public health issues, recessions, tariffs and other similar economic arrangements, or other events could have a significant impact on the Fund and its investments. During a general market downturn, multiple asset classes may be negatively affected. Changes in market conditions and interest rates generally do not have the same impact on all types of securities and instruments. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Equity Securities Risk:</i> Investments in common stocks and other equity securities are particularly subject to the risk of changing economic, stock market, industry and company conditions and the risks inherent in the ability to anticipate such changes that can adversely affect the value of portfolio holdings. Preferred stock is subject to the risk that the dividend on the stock may be changed or omitted by the issuer and that participation in the growth of an issuer may be limited. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Issuer Risk: </i>The value of a security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. The value of an issuer’s security may deteriorate because of a variety of factors, including, but not limited to, disappointing earnings reports by the issuer, unsuccessful products or services, loss of major customers, major litigation against the issuer or changes in government regulations affecting the issuer or the competitive environment. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Country Risk:</i> The Fund may, for finite periods and from time to time, focus its investments in companies that are in a single country or a small number of countries. Focusing investments in a small number of countries may make the Fund more susceptible to currency fluctuations and adverse economic, business, regulatory or other developments affecting that country or group of countries. If an economic downturn occurs in a country in which the Fund’s investments are focused, the Fund may perform poorly during that period. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Currency Risk: </i>The values of investments in securities denominated in foreign currencies increase or decrease as the rates of exchange between those currencies and the U.S. Dollar change. Currency conversion costs and currency fluctuations could erase investment gains or add to investment losses. Currency exchange rates can be volatile and are affected by factors such as general economic conditions, the actions of the United States and foreign governments or central banks, the imposition of currency controls, and speculation. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Foreign Securities Risk:</i> The Fund may invest in non-U.S.-traded securities. There are risks and costs involved in investing in non-U.S.-traded securities which are in addition to the usual risks inherent in securities that trade on a U.S. exchange. These risks will vary from time to time and from country to country, especially if the country is considered an emerging market or developing country and may be different from or greater than the risks associated with investing in developed countries. These risks may include, but are not limited to, higher transaction costs, the imposition of additional foreign taxes, less market liquidity, security registration requirements, and less comprehensive security settlement procedures and regulations, significant currency devaluation relative to the U.S. dollar, restrictions on the Fund’s ability to repatriate investment income or capital, less government regulation and supervision, less public information, less economic, political and social stability, and adverse changes in diplomatic relations between the United States and that foreign country. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Small Company Risk: </i>Small company stocks may be subject to more abrupt or erratic price movements due to a number of reasons, including that the stocks are traded in lower volume and that the issuers are more sensitive to changing conditions and have less certain growth prospects. Small companies in which the Fund may invest typically lack the financial resources, product diversification, and competitive strengths of larger companies which may cause the value of the Fund to be more volatile. Small companies may be more thinly traded than larger, more established companies. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Value Investing Risk:</i> The value approach carries the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock considered to be undervalued may actually be appropriately priced. A portfolio may underperform other equity portfolios that use different investing styles. A portfolio may also underperform other equity portfolios using the value style. Value stocks as a group may be out of favor and underperform the overall equity market for a long period of time, for example, while the market favors “growth” stocks. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Portfolio Management Risk: </i>The Fund is subject to the risk that the securities held by the Fund will underperform other securities and/or may decline in value. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Quantitative Modeling Risk: </i>Quantitative models, including stock and country selection ranking models, use mathematical and statistical techniques to identify investment opportunities and may not yield the desired goals. The accuracy of the quantitative model depends on the quality and reliability of the data used for analysis. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_91E_ecustom--JapanRiskMember_zrWK3vxMWeX4">Japan Risk</span>:</i> The growth of Japan’s economy has historically lagged behind that of its Asian neighbors and other major developed economies. The Japanese economy is heavily dependent on international trade and has been adversely affected by trade tariffs, other protectionist measures, competition from emerging economies and the economic conditions of its trading partners. The Japanese yen has fluctuated widely at times and any increase in its value may cause a decline in exports that could weaken the Japanese economy. Japan has, in the past, intervened in the currency markets to attempt to maintain or reduce the value of the yen. Japan’s aging and shrinking population increases the cost of the country’s pension and public welfare system and lowers domestic demand, making Japan more dependent on exports to sustain its economy. Therefore, any developments that negatively affect Japan’s exports could present risks to a fund’s investments in Japan. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Sector Focus Risk: </i>The Fund may, for finite periods and from time to time, make significant investments in a particular sector which may make the Fund more susceptible to adverse economic, business, regulatory or other developments affecting that sector. If an economic downturn occurs in a sector in which the Fund’s investments are focused, the Fund may perform poorly during that period. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>ADR and GDR Risk: </i>ADRs and GDRs may be subject to some of the same risks as direct investment in foreign companies, which includes international trade, currency, political, regulatory and diplomatic risks. In a sponsored ADR arrangement, the foreign issuer assumes the obligation to pay some or all of the Depository’s transaction fees. Under an unsponsored ADR arrangement, the foreign issuer assumes no obligations and the Depository’s transaction fees are paid directly by the ADR holders. Because unsponsored ADR arrangements are organized independently and without the cooperation of the issuer of the underlying securities, available information concerning the foreign issuer may not be as current as for sponsored ADRs and voting rights with respect to the deposited securities are not passed through. GDRs can involve additional currency risk since, unlike ADRs, they may not be U.S. Dollar-denominated. ADRs and GDRs may not trade at parity with the associated underlying security. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_915_ecustom--PortfolioTurnoverRiskMember_z0gAwrfx3Qe5">Portfolio Turnover Risk</span>:</i> Active and frequent trading of the Fund’s portfolio securities may lead to higher transaction costs and may result in a greater number of taxable transactions than would otherwise be the case, which could negatively affect the Fund’s performance. A high rate of portfolio turnover is 100% or more. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Cybersecurity Risk:</i> With the increased use of technologies such as the Internet to conduct business, the Fund is susceptible to operational, information security, and related risks. Cyber incidents affecting the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Fund’s ability to calculate its NAV, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs. </p> </td> </tr> </table> Bar Chart and Performance Tables <p id="xdx_A88_eoef--PerformanceNarrativeTextBlock_zvLGe1ePlLD3" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Fund acquired the assets of the Segall Bryant &amp; Hamill International Small Cap Fund, a series portfolio of Investment Managers Series Trust on December 9, 2019, (the “International Small Cap Predecessor Fund”). The International Small Cap Predecessor Fund was also advised by SBH. </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">On October 30, 2015, the International Small Cap Predecessor Fund acquired the assets and liabilities of the Philadelphia International Small Cap Fund (the “Philadelphia International Small Cap Predecessor Fund”) (together, with the International Small Cap Predecessor Fund, the “Predecessor Funds”). </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">For periods from October 31, 2015, to December 31, 2018, performance results shown in the bar chart and the performance table below for the Fund’s Retail Class shares and Institutional Class shares reflect the performance of the International Small Cap Predecessor Fund. </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">Performance results shown in the bar chart and the performance table below for periods prior to the reorganization reflect the performance of the Predecessor Funds. Performance returns of the Fund will be different from the Predecessor Funds as they have different expenses. The Predecessor Funds’ past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_90F_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260430__20260430__dei--LegalEntityAxis__custom--S000065431Member_zrLcBqsFhhCf">The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s performance from year to year, and by showing how the Fund’s average annual returns for one-, five-, and ten-years (including performance of the Predecessor Funds, as described above), compare with those of the MSCI ACWI ex-USA Investable Market Index, a broad-based securities market index, and the MSCI EAFE Small Cap Index, an index more representative of the Fund’s investment strategy.</span> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_90C_eoef--PerformancePastDoesNotIndicateFuture_c20260430__20260430__dei--LegalEntityAxis__custom--S000065431Member_zpmYPmOVocXc">The Fund’s past performance (before and after taxes) does not necessarily indicate how it will perform in the future.</span> Updated performance information is available on <span id="xdx_902_eoef--PerformanceAvailabilityWebSiteAddress_c20260430__20260430__dei--LegalEntityAxis__custom--S000065431Member_zyRXBit4oWU2">https://cisbh.com/funds</span> or call toll-free <span id="xdx_909_eoef--PerformanceAvailabilityPhone_c20260430__20260430__dei--LegalEntityAxis__custom--S000065431Member_zuvL3Jduq55a">(800) 392-2673</span>. </p> The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s performance from year to year, and by showing how the Fund’s average annual returns for one-, five-, and ten-years (including performance of the Predecessor Funds, as described above), compare with those of the MSCI ACWI ex-USA Investable Market Index, a broad-based securities market index, and the MSCI EAFE Small Cap Index, an index more representative of the Fund’s investment strategy. The Fund’s past performance (before and after taxes) does not necessarily indicate how it will perform in the future. https://cisbh.com/funds (800) 392-2673 SBH International Small Cap Fund Institutional Class - Calendar Year Total Returns as of December 31 (%) 0.0572 0.2882 -0.2369 0.1670 -0.0535 0.1319 -0.1319 0.1724 0.0777 0.4748 <div id="xdx_A80_eoef--BarChartClosingTextBlock_zGa7gjBVNk3i"></div> <table cellpadding="2" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="background-color: Gainsboro"> <td style="vertical-align: bottom; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_90E_eoef--HighestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000065431Member__oef--ClassAxis__custom--C000211586Member_zWw5Q7jCujj5">Highest Quarterly Return:</span></b><span style="font-weight: normal; font-style: normal"> <span id="xdx_90F_eoef--BarChartHighestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000065431Member__oef--ClassAxis__custom--C000211586Member_zYFFgLt5BrU3">12/31/2022</span> <span id="xdx_90C_eoef--BarChartHighestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000065431Member__oef--ClassAxis__custom--C000211586Member_zFkBW8Iikm81">17.46%</span></span></p></td> <td style="vertical-align: bottom; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_901_eoef--LowestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000065431Member__oef--ClassAxis__custom--C000211586Member_z63i9nCniz13">Lowest Quarterly Return:</span></b><span style="font-weight: normal; font-style: normal"> <span id="xdx_907_eoef--BarChartLowestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000065431Member__oef--ClassAxis__custom--C000211586Member_zZR6a4Vi87F7">3/31/2020</span> <span id="xdx_90F_eoef--BarChartLowestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000065431Member__oef--ClassAxis__custom--C000211586Member_zVM9PgZ0eTV9">(34.51)%</span></span></p></td> </tr> </table> Highest Quarterly Return: 2022-12-31 0.1746 Lowest Quarterly Return: 2020-03-31 -0.3451 Average Annual Total Returns (for the Periods Ended December 31, 2025) <p id="xdx_A81_eoef--PerformanceTableNarrativeTextBlock_z5pi1XaINW24" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_900_eoef--PerformanceTableUsesHighestFederalRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000065431Member_zc3BXKlkcQe9">After-tax returns for the Institutional Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</span> Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. <span id="xdx_901_eoef--PerformanceTableOneClassOfAfterTaxShown_c20260430__20260430__dei--LegalEntityAxis__custom--S000065431Member_zJWuQqHiZHdi">After-tax returns are shown only for the Institutional Class, after-tax returns for the Retail Class will be different.</span> <span id="xdx_906_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260430__20260430__dei--LegalEntityAxis__custom--S000065431Member_zLBBD47ZfJOc">After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts. </span></p> After-tax returns for the Institutional Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown only for the Institutional Class, after-tax returns for the Retail Class will be different. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts. 0.4748 0.1286 0.0771 0.4582 0.1150 0.0662 0.2946 0.1005 0.0597 0.4743 0.1272 0.0752 0.3183 0.0562 0.0749 0.3196 0.0777 0.0837 SEGALL BRYANT & HAMILL INTERNATIONAL EQUITY FUND Investment Objective <p id="xdx_A8A_eoef--ObjectivePrimaryTextBlock_zkRT9i5mEhtd" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Segall Bryant &amp; Hamill International Equity Fund (the “SBH International Equity Fund” or “Fund”) seeks to achieve long-term capital appreciation. </p> Fees and Expenses of the Fund <p id="xdx_A85_eoef--ExpenseNarrativeTextBlock_zOboUAzTuEaj" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. <b>You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</b> </p> Shareholder Fees (fees paid directly from your investment) 12.00 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0075 0.0075 0 0 0.0408 0.0396 0.0025 0.0010 0.0383 0.0386 0.0483 0.0471 -0.0384 -0.0387 0.0099 0.0084 April 30, 2027 Example <p id="xdx_A84_eoef--ExpenseExampleNarrativeTextBlock_zIlmSgLMxail" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in either the Retail Class shares or the Institutional Class shares of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s total annual operating expenses remain the same. This Example reflects the net operating expenses with expense waivers for the one-year contractual period and the total operating expenses without expense waivers for years two through ten. </p> Although your actual costs may be higher or lower, based on these assumptions your costs would be: 101 1107 2117 4657 86 1070 2060 4559 <p id="xdx_A80_eoef--ExpenseExampleNoRedemptionNarrativeTextBlock_zdUrI95q2WA9" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">Your expenses would be the same if you did not redeem your shares. </p> Portfolio Turnover <p id="xdx_A81_eoef--PortfolioTurnoverTextBlock_zDm9IEpATdzh" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. A higher turnover rate may also result in higher taxes when Fund shares are held in a taxable account. During the most recent fiscal year, the portfolio turnover rate of the Fund was <span id="xdx_90D_eoef--PortfolioTurnoverRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000083239Member_z2dAOGDoBKJ7">107%</span> of the average value of its portfolio. </p> 1.07 Principal Investment Strategies of the Fund <div id="xdx_A84_eoef--StrategyNarrativeTextBlock_zqXUrvdm3NN5"></div> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Under normal circumstances, the Fund will invest at least 80% of its net assets (including amounts borrowed for investment purposes) in equity securities, primarily common stock, of companies located outside of the United States, </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund’s Adviser considers a company to be international (that is outside of the United States) if: (i) it is organized under the laws of a foreign country or maintains its principal offices or headquarters in a foreign country; (ii) its securities are principally traded in a foreign country; or (iii) it derives at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed in a foreign country, or has at least 50% of its assets in a foreign country. The Fund will allocate its assets among various regions and countries, with a minimum of ten countries. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund may purchase equity securities on exchanges where the companies are located, on exchanges other than where companies are domiciled (often traded as dual listed securities) or in the form of Depository Receipts, which include American Depository Receipts (“ADRs”), Global Depository Receipts (“GDRs”) or similar securities. The Fund may also purchase participatory notes (commonly known as “P-notes”) issued by foreign banks or brokers evidencing ownership of underlying stocks issued by a foreign company. This type of investment allows the Fund to have exposure to foreign securities without trading directly in the local market. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund’s Adviser uses proprietary quantitative models to evaluate and select countries and securities for the Fund’s portfolio. The Fund’s Adviser evaluates and selects securities based on value, momentum and profitability models. The Fund may engage in active and frequent trading. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Stocks may be sold when conditions have changed and the company’s prospects are no longer attractive, its stock price has achieved the team’s valuation target or better relative investment opportunities have been identified. </p> </td> </tr> </table> Risk is inherent in all investing, and you could lose money by investing in the Fund. <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Market Risk: </i>As with any fund, the value of your investment will fluctuate over time in response to overall movements in the stock market. Further, investments in common stocks tend to be more volatile than many other investment choices. The value of a security or other asset may decline due to changes in general market conditions, economic trends or events that are not specifically related to the issuer of the security or other asset, or factors that affect a particular issuer or issuers, country, group of countries, region, market industry, group of industries, sector or asset class. Local, regional, or global events such as war, acts of terrorism, the spread of infections, illness or other public health issues, recessions, tariffs and other similar economic arrangements, or other events could have a significant impact on the Fund and its investments. During a general market downturn, multiple asset classes may be negatively affected. Changes in market conditions and interest rates generally do not have the same impact on all types of securities and instruments. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Equity Securities Risk: </i>Investments in common stocks and other equity securities are particularly subject to the risk of changing economic, stock market, industry and company conditions and the risks inherent in the ability to anticipate such changes that can adversely affect the value of portfolio holdings. Preferred stock is subject to the risk that the dividend on the stock may be changed or omitted by the issuer and that participation in the growth of an issuer may be limited. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Issuer Risk:</i> The value of a security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. The value of an issuer’s security may deteriorate because of a variety of factors, including, but not limited to, disappointing earnings reports by the issuer, unsuccessful products or services, loss of major customers, major litigation against the issuer or changes in government regulations affecting the issuer or the competitive environment. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Country Risk: </i>The Fund may, for finite periods and from time to time, focus its investments in companies that are in a single country or a small number of countries. Focusing investments in a small number of countries may make the Fund more susceptible to currency fluctuations and adverse economic, business, regulatory or other developments affecting that country or group of countries. If an economic downturn occurs in a country in which the Fund’s investments are focused, the Fund may perform poorly during that period. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Currency Risk:</i> The values of investments in securities denominated in foreign currencies increase or decrease as the rates of exchange between those currencies and the U.S. Dollar change. Currency conversion costs and currency fluctuations could erase investment gains or add to investment losses. Currency exchange rates can be volatile and are affected by factors such as general economic conditions, the actions of the United States and foreign governments or central banks, the imposition of currency controls, and speculation. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Foreign Securities Risk:</i> The Fund may invest in non-U.S.-traded securities. There are risks and costs involved in investing in non-U.S.-traded securities which are in addition to the usual risks inherent in securities that trade on a U.S. exchange. These risks will vary from time to time and from country to country, especially if the country is considered an emerging market or developing country and may be different from or greater than the risks associated with investing in developed countries. These risks may include, but are not limited to, higher transaction costs, the imposition of additional foreign taxes, less market liquidity, security registration requirements, and less comprehensive security settlement procedures and regulations, significant currency devaluation relative to the U.S. dollar, restrictions on the Fund’s ability to repatriate investment income or capital, less government regulation and supervision, less public information, less economic, political and social stability, and adverse changes in diplomatic relations between the United States and that foreign country. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Value Investing Risk:</i> The value approach carries the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock considered to be undervalued may actually be appropriately priced. A portfolio may underperform other equity portfolios that use different investing styles. A portfolio may also underperform other equity portfolios using the value style. Value stocks as a group may be out of favor and underperform the overall equity market for a long period of time, for example, while the market favors “growth” stocks. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Portfolio Management Risk:</i> The Fund is subject to the risk that the securities held by the Fund will underperform other securities and/or may decline in value. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Quantitative Modeling Risk:</i> Quantitative models, including stock and country selection ranking models, use mathematical and statistical techniques to identify investment opportunities and may not yield the desired goals. The accuracy of the quantitative model depends on the quality and reliability of the data used for analysis. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Sector Focus Risk: </i>The Fund may, for finite periods and from time to time, make significant investments in a particular sector which may make the Fund more susceptible to adverse economic, business, regulatory or other developments affecting that sector. If an economic downturn occurs in a sector in which the Fund’s investments are focused, the Fund may perform poorly during that period. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>ADR and GDR Risk:</i> ADRs and GDRs may be subject to some of the same risks as direct investment in foreign companies, which includes international trade, currency, political, regulatory and diplomatic risks. In a sponsored ADR arrangement, the foreign issuer assumes the obligation to pay some or all of the Depository’s transaction fees. Under an unsponsored ADR arrangement, the foreign issuer assumes no obligations and the Depository’s transaction fees are paid directly by the ADR holders. Because unsponsored ADR arrangements are organized independently and without the cooperation of the issuer of the underlying securities, available information concerning the foreign issuer may not be as current as for sponsored ADRs and voting rights with respect to the deposited securities are not passed through. GDRs can involve additional currency risk since, unlike ADRs, they may not be U.S. Dollar-denominated. ADRs and GDRs may not trade at parity with the associated underlying security. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Portfolio Turnover Risk: </i>Active and frequent trading of the Fund’s portfolio securities may lead to higher transaction costs and may result in a greater number of taxable transactions than would otherwise be the case, which could negatively affect the Fund’s performance. A high rate of portfolio turnover is 100% or more. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Cybersecurity Risk: </i>With the increased use of technologies such as the Internet to conduct business, the Fund is susceptible to operational, information security, and related risks. Cyber incidents affecting the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Fund’s ability to calculate its NAV, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs. </p> </td> </tr> </table> Bar Chart and Performance Tables <p id="xdx_A8C_eoef--PerformanceNarrativeTextBlock_zsZCndToYqyd" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">For periods prior to December 8, 2023, the performance shown below is for the Segall Bryant &amp; Hamill International Fund, LP (the “Predecessor Fund”), an unregistered limited partnership managed by the portfolio managers of the Fund. The Predecessor Fund was reorganized into the Institutional Class shares on December 8, 2023, the date that the SBH International Equity Fund commenced operations. The SBH International Equity Fund has been managed in the same style and by the same portfolio managers since the Predecessor Fund’s inception on October 27, 2021. The SBH International Equity Fund’s investment goals, policies, guidelines and restrictions are, in all material respects, equivalent to the Predecessor Fund’s investment goals, policies, guidelines and restrictions. The Predecessor Fund’s annual returns and long-term performance reflect the actual fees and expenses that were charged when the SBH International Equity Fund was a limited partnership. The Predecessor Fund’s performance is net of management fees and other expenses. From its inception on October 27, 2021, through December 7, 2023, the Predecessor Fund was not subject to certain investment restrictions, diversification requirements and other restrictions of the Investment Company Act of 1940, as amended (the “1940 Act”) or Subchapter M of the Internal Revenue Code of 1986, as amended, which, if they had been applicable, might have adversely affected the SBH International Equity Fund’s performance. </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">Retail Class shares would have similar annual returns to Institutional Class shares and the Predecessor Fund because they are invested in the same portfolio of securities, however, the returns for Retail Class shares would be different from the Institutional Class shares and the Predecessor Fund because Retail Class shares have different expenses than Institutional Class shares and the Predecessor Fund. Performance information for Retail Class shares will be included after the share class has been in operation for one complete calendar year. </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_90D_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260430__20260430__dei--LegalEntityAxis__custom--S000083239Member_zDiWiEGWurNg">The following bar chart and table provide an indication of the risk of investing in the SBH International Equity Fund by showing changes in the Fund’s performance (including that of the Predecessor Fund as described above) from year to year, and by showing how the Fund’s average annual returns for one-year and since inception periods compare with those of the MSCI ACWI ex-USA Investable Market Index, a broad-based securities market index, and the MSCI EAFE Index, an index more representative of the Fund’s investment strategy.</span> <span id="xdx_900_eoef--PerformancePastDoesNotIndicateFuture_c20260430__20260430__dei--LegalEntityAxis__custom--S000083239Member_zALmCMXPUpul">The Fund’s past performance (before and after taxes and including the past performance of the Predecessor Fund) does not necessarily indicate how it will perform in the future.</span> Updated performance information is available on <span id="xdx_906_eoef--PerformanceAvailabilityWebSiteAddress_c20260430__20260430__dei--LegalEntityAxis__custom--S000083239Member_zqmw81vNY9gk">https://cisbh.com/funds</span> or call toll-free <span id="xdx_903_eoef--PerformanceAvailabilityPhone_c20260430__20260430__dei--LegalEntityAxis__custom--S000083239Member_zitNCLqji8Da">(800) 392-2673</span>. </p> The following bar chart and table provide an indication of the risk of investing in the SBH International Equity Fund by showing changes in the Fund’s performance (including that of the Predecessor Fund as described above) from year to year, and by showing how the Fund’s average annual returns for one-year and since inception periods compare with those of the MSCI ACWI ex-USA Investable Market Index, a broad-based securities market index, and the MSCI EAFE Index, an index more representative of the Fund’s investment strategy. The Fund’s past performance (before and after taxes and including the past performance of the Predecessor Fund) does not necessarily indicate how it will perform in the future. https://cisbh.com/funds (800) 392-2673 SBH International Equity Fund Institutional Class - Calendar Year Total Returns as of December 31 (%) -0.1021 0.2123 0.0458 0.4429 <div id="xdx_A80_eoef--BarChartClosingTextBlock_zasd2qgNRQyj"></div> <table cellpadding="2" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="background-color: Gainsboro"> <td style="vertical-align: bottom; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_909_eoef--HighestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000083239Member__oef--ClassAxis__custom--C000246765Member_zFnYd6NATBx7">Highest Quarterly Return:</span> </b><span style="font-weight: normal; font-style: normal"><span id="xdx_90F_eoef--BarChartHighestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000083239Member__oef--ClassAxis__custom--C000246765Member_z2Hv3bG6FnQi">12/31/2022</span> <span id="xdx_901_eoef--BarChartHighestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000083239Member__oef--ClassAxis__custom--C000246765Member_zbLPmgRkZvDh">19.20%</span></span></p></td> <td style="vertical-align: bottom; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_906_eoef--LowestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000083239Member__oef--ClassAxis__custom--C000246765Member_zagaiDXuvQB6">Lowest Quarterly Return:</span> </b><span style="font-weight: normal; font-style: normal"><span id="xdx_908_eoef--BarChartLowestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000083239Member__oef--ClassAxis__custom--C000246765Member_zmWFN01CfxSa">6/30/2022</span> <span id="xdx_90F_eoef--BarChartLowestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000083239Member__oef--ClassAxis__custom--C000246765Member_zMtX45v4Penf">(14.16)%</span></span></p></td> </tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The returns above are for the Institutional Class of the Fund. The Retail Class would have substantially similar annual returns to the Institutional Class because the classes are invested in the same portfolio securities. The Institutional Class’ returns will be higher over the long-term when compared to the Retail Class’ returns to the extent that the Retail Class has higher expenses. </p> Highest Quarterly Return: 2022-12-31 0.1920 Lowest Quarterly Return: 2022-06-30 -0.1416 Average Annual Total Returns (for the Periods Ended December 31, 2025) <p id="xdx_A83_eoef--PerformanceTableNarrativeTextBlock_znF9H0FklNR5" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Predecessor Fund was an unregistered limited partnership and, therefore, did not qualify as a regulated investment company for federal income tax purposes and was not required to make regular distributions of income or capital gains. As a result, after-tax returns for the Predecessor Fund are not shown. </p> 0.4429 0.1266 0.4226 0.1179 0.2692 0.0981 0.4393 0.1249 0.3122 0.0797 0.3196 0.0694 SEGALL BRYANT & HAMILL GLOBAL ALL CAP FUND Investment Objective <p id="xdx_A83_eoef--ObjectivePrimaryTextBlock_zDr5dHf0SXr3" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Segall Bryant &amp; Hamill Global All Cap Fund (the “SBH Global All Cap Fund” or “Fund”) seeks to achieve long-term capital appreciation. </p> Fees and Expenses of the Fund <p id="xdx_A80_eoef--ExpenseNarrativeTextBlock_znBiobDcY15i" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. <b>You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. </b></p> Shareholder Fees (fees paid directly from your investment) 12.00 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0065 0.0065 0 0 0.0086 0.0093 0.0025 0.0010 0.0061 0.0083 0.0151 0.0158 -0.0062 -0.0080 0.0089 0.0078 April 30, 2027 Example <p id="xdx_A88_eoef--ExpenseExampleNarrativeTextBlock_zBrGTgNCR48" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in either the Retail Class shares or the Institutional Class shares of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s total annual operating expenses remain the same. This Example reflects the net operating expenses with expense waivers for the one-year contractual period and the total operating expenses without expense waivers for years two through ten. </p> Although your actual costs may be higher or lower, based on these assumptions your costs would be: 91 416 765 1749 80 420 785 1811 <p id="xdx_A8E_eoef--ExpenseExampleNoRedemptionNarrativeTextBlock_zyAl9hBY49nk" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">Your expenses would be the same if you did not redeem your shares. </p> Portfolio Turnover <p id="xdx_A83_eoef--PortfolioTurnoverTextBlock_zpF098oTWoe3" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. A higher turnover rate may also result in higher taxes when Fund shares are held in a taxable account. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_900_eoef--PortfolioTurnoverRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000006749Member_zmwWzLUTXOT9">22%</span> of the average value of its portfolio. </p> 0.22 Principal Investment Strategies of the Fund <div id="xdx_A8B_eoef--StrategyNarrativeTextBlock_zYiNgvAeDmL2"></div> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Under normal circumstances, the Fund will invest at least 80% of the value of its net assets (including amounts borrowed for investment purposes) in equity securities of companies of any size, including small- and mid-capitalization companies as measured at the time of purchase. The Fund will primarily invest in common stock of companies traded on U.S. exchanges with market capitalization in excess of $1 billion. The MSCI World Mid Cap Index and the MSCI World Small Cap Index are indices which include companies with market capitalizations within the mid-cap and small-cap universe. The Fund will, under normal circumstances, invest at least 35% of its net assets in common stock of companies with market capitalizations similar in size to companies within the MSCI World Mid Cap Index and the MSCI World Small Cap Index. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Under normal circumstances, the Fund will invest at least 40% of its net assets in stocks of foreign companies drawn from at least three different countries (and at least 30% of its net assets in stocks of foreign companies if market conditions are not favorable). </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Adviser invests the Fund’s assets opportunistically based on market information and does not limit its investment analysis approach to value, growth, or core investment styles. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Adviser believes that returns in excess of general market returns can be achieved by actively managing investment portfolios. The Fund invests in companies that the Adviser believes have superior growth potential and are trading at a discount to the Adviser’s estimate of the companies’ intrinsic value. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Adviser’s investment process is driven by fundamental research utilizing a combination of external and proprietary research in its selection process. Through a combination of quantitative analysis (which may encompass techniques such as evaluation of financial data or statistical/mathematical modeling), fundamental analysis (which may include assessments of a company’s holdings or key characteristics, as well as broader economic factors) and experienced judgment, the Adviser seeks to identify companies that have historically generated, or are positioned to generate, superior returns on investments. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund can invest in securities of companies whose stock is traded on U.S. or foreign markets, including depositary receipts or shares issued by companies incorporated outside of the United States (e.g., ADRs). </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund considers “foreign companies” to include those domiciled outside of the United States or with the principal trading market of their securities outside of the United States. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Stocks may be sold when conditions have changed and the company’s prospects are no longer attractive, its stock price has achieved the team’s valuation target or better relative investment opportunities have been identified. </p> </td> </tr> </table> Risk is inherent in all investing, and you could lose money by investing in the Fund. <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Market Capitalization Risk: </i>To the extent a Fund invests in securities issued by small-, medium- or large capitalization companies, it will be subject to the risks associated with securities issued by companies of the applicable market capitalization. Securities issued by companies of different market capitalizations tend to go in and out of favor based on market and economic conditions. During a period when securities of a particular market capitalization underperform other types of investments, a Fund’s performance could be adversely impacted. The small- and medium-sized companies in which the Fund may invest may be more vulnerable to adverse business or economic events than larger, more established companies. In particular, these small-and medium-sized companies may pose additional risks, including liquidity risk, because these companies tend to have limited product lines, markets, and financial resources, and may </p> </td> </tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 31.5pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">depend upon a relatively small management group. Therefore, small- and medium-sized stocks may be more volatile than those of larger companies. Small- and medium-sized companies may be more thinly traded than larger, more established companies. </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Market Risk:</i> As with any fund, the value of your investment will fluctuate over time in response to overall movements in the stock market. Further, investments in common stocks tend to be more volatile than many other investment choices. The value of a security or other asset may decline due to changes in general market conditions, economic trends or events that are not specifically related to the issuer of the security or other asset, or factors that affect a particular issuer or issuers, country, group of countries, region, market industry, group of industries, sector or asset class. Local, regional, or global events such as war, acts of terrorism, the spread of infections, illness or other public health issues, recessions, tariffs and other similar economic arrangements, or other events could have a significant impact on the Fund and its investments. During a general market downturn, multiple asset classes may be negatively affected. Changes in market conditions and interest rates generally do not have the same impact on all types of securities and instruments. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Equity Securities Risk:</i> Investments in common stocks and other equity securities are particularly subject to the risk of changing economic, stock market, industry and company conditions and the risks inherent in the ability to anticipate such changes that can adversely affect the value of portfolio holdings. Preferred stock is subject to the risk that the dividend on the stock may be changed or omitted by the issuer and that participation in the growth of an issuer may be limited. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Issuer Risk: </i>The value of a security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. The value of an issuer’s security may deteriorate because of a variety of factors, including, but not limited to, disappointing earnings reports by the issuer, unsuccessful products or services, loss of major customers, major litigation against the issuer or changes in government regulations affecting the issuer or the competitive environment. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Portfolio Management Risk:</i> The Fund is subject to the risk that the securities held by the Fund will underperform other securities and/or may decline in value. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Foreign Securities Risk: </i>The Fund may invest in non-U.S.-traded securities. There are risks and costs involved in investing in non-U.S.-traded securities which are in addition to the usual risks inherent in securities that trade on a U.S. exchange. These risks will vary from time to time and from country to country, especially if the country is considered an emerging market or developing country and may be different from or greater than the risks associated with investing in developed countries. These risks may include, but are not limited to, higher transaction costs, the imposition of additional foreign taxes, less market liquidity, security registration requirements, and less comprehensive security settlement procedures and regulations, significant currency devaluation relative to the U.S. dollar, restrictions on the Fund’s ability to repatriate investment income or capital, less government regulation and supervision, less public information, less economic, political and social stability, and adverse changes in diplomatic relations between the United States and that foreign country. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>ADR and GDR Risk:</i> ADRs and GDRs may be subject to some of the same risks as direct investment in foreign companies, which includes international trade, currency, political, regulatory and diplomatic risks. In a sponsored ADR arrangement, the foreign issuer assumes the obligation to pay some or all of the Depository’s transaction fees. Under an unsponsored ADR arrangement, the foreign issuer assumes no obligations and the Depository’s transaction fees are paid directly by the ADR holders. Because unsponsored ADR arrangements are organized independently and without the cooperation of the issuer of the underlying securities, available information concerning the foreign issuer may not be as current as for sponsored ADRs and voting rights with respect to the deposited securities are not passed through. GDRs can involve additional currency risk since, unlike ADRs, they may not be U.S. Dollar-denominated. ADRs and GDRs may not trade at parity with the associated underlying security. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Information Technology Sector Risk:</i> Information technology companies face intense competition, both domestically and internationally, which may have an adverse effect on profit margins. Like other technology companies, information technology companies may have limited product lines, markets, financial resources or personnel. The products of information technology companies may face obsolescence due to rapid technological developments, frequent new product introduction, unpredictable changes in growth rates and competition for the services of qualified personnel. Companies in the information technology sector are heavily dependent on patent and intellectual property rights. The loss, or impairment of, or inability to enforce, these rights may adversely affect the profitability of these companies. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Sector Focus Risk:</i> The Fund may, for finite periods and from time to time, focus its investments in companies that are in a single sector or related sector, due to reasons such as a rebalancing or reconstitution of a benchmark index. Focusing investments in a single sector may make the Fund more susceptible to adverse economic, business, regulatory or other developments affecting that sector. If an economic downturn occurs in a sector in which the Fund’s investments are focused, the Fund may perform poorly during that period. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Country Risk: </i>The Fund may, for finite periods and from time to time, focus its investments in companies that are in a single country or a small number of countries. Focusing investments in a small number of countries may make the Fund more susceptible to currency fluctuations and adverse economic, business, regulatory or other developments affecting that country or group of countries. If an economic downturn occurs in a country in which the Fund’s investments are focused, the Fund may perform poorly during that period. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Currency Risk: </i>The Fund’s exposure to foreign markets may affect the net asset value and total return of the Fund due to fluctuations in currency exchange rates. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Cybersecurity Risk: </i>With the increased use of technologies such as the Internet to conduct business, the Fund is susceptible to operational, information security, and related risks. Cyber incidents affecting the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Fund’s ability to calculate its NAV, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs. </p> </td> </tr> </table> Bar Chart and Performance Tables <p id="xdx_A87_eoef--PerformanceNarrativeTextBlock_zW4s2LdglEl4" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_90F_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260430__20260430__dei--LegalEntityAxis__custom--S000006749Member_zvCUAKdc2Yd7">The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s Retail Class performance from year to year, and by showing how the Fund’s average annual returns for one, five, and ten years compare with those of a broad-based securities market index.</span> <span id="xdx_90D_eoef--PerformancePastDoesNotIndicateFuture_c20260430__20260430__dei--LegalEntityAxis__custom--S000006749Member_zhYZOPPgLEBb">The Fund’s past performance (before and after taxes) does not necessarily indicate how it will perform in the future.</span> Please note that for longer term performance numbers, prior to April 29, 2016 the Fund was known as the Westcore Blue Chip Dividend Fund, prior to April 30, 2018 the Fund was known as the Westcore Global Large-Cap Dividend Fund, and prior to September 19, 2020 the Fund was known as the Segall Bryant &amp; Hamill Global Large Cap Fund. </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">Updated performance information is available on <span id="xdx_90D_eoef--PerformanceAvailabilityWebSiteAddress_c20260430__20260430__dei--LegalEntityAxis__custom--S000006749Member_zzN2MyuMPRn6">https://cisbh.com/funds</span> or call toll-free <span id="xdx_90B_eoef--PerformanceAvailabilityPhone_c20260430__20260430__dei--LegalEntityAxis__custom--S000006749Member_zo4pTO3htCbg">(800) 392-2673</span>. </p> The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s Retail Class performance from year to year, and by showing how the Fund’s average annual returns for one, five, and ten years compare with those of a broad-based securities market index. The Fund’s past performance (before and after taxes) does not necessarily indicate how it will perform in the future. https://cisbh.com/funds (800) 392-2673 SBH Global All Cap Fund Retail Class - Calendar Year Total Returns as of December 31 (%) 0.0858 0.1956 -0.0870 0.2536 0.0295 0.2583 -0.1868 0.2162 0.1628 0.0981 <div id="xdx_A8D_eoef--BarChartClosingTextBlock_zNgJmH5Om8Ta"></div> <table cellpadding="2" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="background-color: Gainsboro"> <td style="vertical-align: bottom; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_902_eoef--HighestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000006749Member__oef--ClassAxis__custom--C000018316Member_zTVeo0MUaOS6">Highest Quarterly Return</span>: </b><span style="font-weight: normal; font-style: normal"><span id="xdx_904_eoef--BarChartHighestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000006749Member__oef--ClassAxis__custom--C000018316Member_zenDUKwZ8U49">6/30/2020</span> <span id="xdx_90F_eoef--BarChartHighestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000006749Member__oef--ClassAxis__custom--C000018316Member_zCd3fqU5Kxu9">16.21%</span></span></p></td> <td style="vertical-align: bottom; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_90F_eoef--LowestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000006749Member__oef--ClassAxis__custom--C000018316Member_zi3rxVgq8lU7">Lowest Quarterly Return</span>: </b><span style="font-weight: normal; font-style: normal"><span id="xdx_905_eoef--BarChartLowestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000006749Member__oef--ClassAxis__custom--C000018316Member_zxbYB6UU70R">3/31/2020</span> <span id="xdx_904_eoef--BarChartLowestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000006749Member__oef--ClassAxis__custom--C000018316Member_zrmaO7iQ6i5e">(23.72)%</span></span></p></td> </tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The returns above are for the Retail Class of the Fund. The Institutional Class would have substantially similar annual returns to the Retail Class because the classes are invested in the same portfolio securities. The Institutional Class’ returns will be higher over the long-term when compared to the Retail Class’ returns to the extent that the Retail Class has higher expenses. </p> Highest Quarterly Return 2020-06-30 0.1621 Lowest Quarterly Return 2020-03-31 -0.2372 Average Annual Total Returns (for the Periods Ended December 31, 2025) <p id="xdx_A84_eoef--PerformanceTableNarrativeTextBlock_zPKgCYLYTJZg" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_905_eoef--PerformanceTableUsesHighestFederalRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000006749Member_znNaE1NGE6S9">After-tax returns for the Retail Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</span> Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. <span id="xdx_902_eoef--PerformanceTableOneClassOfAfterTaxShown_c20260430__20260430__dei--LegalEntityAxis__custom--S000006749Member_zbHlssnTYHM7">After-tax returns are shown only for the Retail Class; after-tax returns for the Institutional Class will be different.</span> <span id="xdx_90A_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260430__20260430__dei--LegalEntityAxis__custom--S000006749Member_zh48HZ3IH9vj">After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts.</span> </p> After-tax returns for the Retail Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown only for the Retail Class; after-tax returns for the Institutional Class will be different. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts. 0.0981 0.0970 0.0929 0.0839 0.0842 0.0756 0.0682 0.0743 0.0711 0.0979 0.0982 0.0941 0.2109 0.1215 0.1217 SEGALL BRYANT & HAMILL PLUS BOND FUND Investment Objective <p id="xdx_A80_eoef--ObjectivePrimaryTextBlock_zupkQbTFfkAd" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Segall Bryant &amp; Hamill Plus Bond Fund (the “SBH Plus Bond Fund” or “Fund”) seeks to achieve long-term total rate of return consistent with preservation of capital. </p> Fees and Expenses of the Fund <p id="xdx_A8C_eoef--ExpenseNarrativeTextBlock_z2g1d4LpcHP5" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. <b>You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. </b></p> Shareholder Fees (fees paid directly from your investment) 12.00 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0035 0.0035 0 0 0.0035 0.0020 0.0025 0.0010 0.0010 0.0010 0.0070 0.0055 -0.0015 -0.0015 0.0055 0.0040 April 30, 2027 Example <p id="xdx_A8A_eoef--ExpenseExampleNarrativeTextBlock_zf10PPX7Gtvg" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in either the Retail Class shares or the Institutional Class shares of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year, that the Fund’s total annual operating expenses remain the same. This Example reflects the net operating expenses with expense waivers for the one-year contractual period and the total operating expenses without expense waivers for years two through ten. </p> Although your actual costs may be higher or lower, based on these assumptions your costs would be: 56 209 375 856 41 161 292 675 <p id="xdx_A83_eoef--ExpenseExampleNoRedemptionNarrativeTextBlock_zd3IXYHxPDUb" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">Your expenses would be the same if you did not redeem your shares. </p> Portfolio Turnover <p id="xdx_A85_eoef--PortfolioTurnoverTextBlock_zgTq6YRVQkQh" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. A higher turnover rate may also result in higher taxes when Fund shares are held in a taxable account. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_900_eoef--PortfolioTurnoverRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000006744Member_zrtgWPzOwYL8">38%</span> of the average value of its portfolio. </p> 0.38 Principal Investment Strategies of the Fund <div id="xdx_A8D_eoef--StrategyNarrativeTextBlock_zoI2slgGSiy6"></div> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund invests 65% or more of its assets in investment-grade debt securities – those rated in the top four rating categories by at least one nationally recognized rating agency, such as Moody’s or Standard &amp; Poor’s (a “Rating Agency”). The dollar-weighted average quality is expected to be “Baa” or better. A “Baa” rating typically is the lowest of the four investment-grade categories. The Fund may invest up to thirty-five percent (35%) of its assets in below investment-grade securities, (also known as “junk” bonds), which are securities rated below investment-grade by a Rating Agency or are unrated and determined to be of comparable quality by the Adviser and may include bonds that are already in default. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Under normal circumstances, the Fund will invest at least eighty percent (80%) of the value of its net assets, plus any borrowings for investment purposes, in bonds of varying maturities. Bonds for purposes of this limitation include corporate bonds, convertible bonds, government and agency securities, mortgage-backed securities, asset-backed securities, and zero coupon bonds. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund may invest up to twenty percent (20%) in equity securities, generally in preferred stocks, but common stocks are allowed. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Although the Fund normally focuses on U.S. dollar-denominated securities, the Fund may invest up to twenty-five percent (25%) in non-U.S. dollar-denominated securities. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The portfolio management team implements an investment strategy that is based on the belief that consistently strong risk-adjusted returns are best achieved through an emphasis on securities with higher income streams (typically non-Treasury sectors). The team seeks to deliver alpha, or risk-adjusted excess return, relative to the Fund’s benchmark, primarily through security and sector selection. However, the team opportunistically uses top-down strategies, such as increasing or decreasing exposure to interest rate changes, when market conditions are compelling. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Credit analysis is at the core of the investment process, as the team believes attractively-valued opportunities between sectors and securities are most effectively captured through proprietary fundamental research and a long-term investment orientation. The process also leverages the resources of the Adviser’s equity research teams, providing diverse perspectives and added knowledge about the securities the team analyzes. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund expects to maintain an effective duration of between 4 and 7 years and an effective maturity of between 7 and 12 years, under normal circumstances. Duration is a measure that indicates the price sensitivity of a fixed-income security to changes in interest rates. It reflects the weighted average time it takes to receive all cash flows (both coupon payments and principal repayment) from a fixed income security. A higher duration means a greater sensitivity to interest rate changes indicating more interest rate risk. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Using a collaborative approach grounded in proprietary research, the team constructs a diversified portfolio by issuer to seek to minimize issuer-specific credit risk. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Securities may be sold when conditions have changed and the security’s prospects are no longer attractive, the security has achieved the team’s valuation target or better relative investment opportunities have been identified. </p> </td> </tr> </table> Risk is inherent in all investing, and you could lose money by investing in the Fund. <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_918_ecustom--FixedIncomeSecuritiesRiskMember_zqRAALUp1bbi">Fixed Income Securities Risk</span>:</i> Fixed income securities markets may, in response to governmental intervention, economic or market developments (including potentially a reduction in the number of broker-dealers willing to engage in market-making activity), or other factors, experience periods of increased volatility and reduced liquidity. Additionally, there is a possibility that the Fund’s income may decline due to a decrease in interest rates. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Market Risk:</i> As with any fund, the value of your investment will fluctuate over time in response to overall movements in the market. The value of a security or other asset may decline due to changes in general market conditions, economic trends or events that are not specifically related to the issuer of the security or other asset, or factors that affect a particular issuer or issuers, country, group of countries, region, market industry, group of industries, sector or asset class. Local, regional, or global events such as war, acts of terrorism, the spread of infections, illness or other public health issues, recessions, tariffs and other similar economic arrangements, or other events could have a significant impact on the Fund and its investments. During a general market downturn, multiple asset classes may be negatively affected. Changes in market conditions and interest rates generally do not have the same impact on all types of securities and instruments. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Issuer Risk: </i>The value of a security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. The value of an issuer’s security may deteriorate because of a variety of factors, including, but not limited to, disappointing earnings reports by the issuer, unsuccessful products or services, loss of major customers, major litigation against the issuer or changes in government regulations affecting the issuer or the competitive environment. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Portfolio Management Risk: </i>The Fund is subject to the risk that particular types of securities held will underperform other securities and/or may decline in value. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Credit Risk:</i> An issuer may be unable to make principal and interest payments when due or that the price of the security changes due to a downgrade in the credit quality of the issuer. In such cases, the value of the Fund’s portfolio could fall. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_91F_ecustom--CorporateBondRiskMember_zkERgQ1KpZL4">Corporate Bond Risk</span>: </i>The investment return of corporate bonds reflects interest earned on the security and changes in the market value of the security. The market value of a corporate bond may be affected by changes in interest rates, the credit rating of the corporation, the corporation’s performance and perceptions of the corporation in the marketplace. The market value of a corporate bond generally may be expected to rise and fall inversely with interest rates. The market value of intermediate and longer-term corporate bonds is generally more sensitive to changes in interest rates than is the market value of shorter-term corporate bonds. Corporate bonds are also subject to the credit risk of the issuer, as the issuer of corporate bonds may not be able to meet their obligations on interest or principal payments at the time called for by an instrument. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Interest Rate Risk: </i>A principal risk of investing in the Fund is that the value of a fixed income portfolio will generally decrease when interest rates rise, which means the Fund’s net asset value (“NAV”) will likewise decrease. Generally, debt securities decrease in value if interest rates rise and increase in value if interest rates fall, with longer term securities being more sensitive than shorter-term securities. For example, the approximate percentage change in the price of a security with a two-year duration would be expected to drop by approximately 2% in response to a 1% increase in interest rates. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Prepayment Risk:</i> A general decline in interest rates may result in prepayments of certain obligations the Fund will acquire. These prepayments may require the Fund to reinvest at a lower rate of return. They may also reduce the Fund’s share price because the value of those securities may depreciate or may not appreciate as rapidly as debt securities, which cannot be prepaid. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_918_ecustom--ExtensionRiskMember_zJ94UCp3btQj">Extension Risk</span>:</i> The Fund is subject to the risk that an issuer will exercise its right to pay principal on an obligation held by the Fund (such as a mortgage or asset-backed security) later than expected. This may happen when there is a rise in interest rates. These events may lengthen the duration and potentially reduce the value of these securities. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_91B_ecustom--BelowInvestmentGradeSecuritiesRiskMember_zH52uBDEEQ9a">Below-Investment Grade Securities Risk</span>:</i> High-yield fixed income securities, sometimes referred to as “junk” bonds, are considered speculative. While generally providing greater income than investments in higher-quality securities, these lower quality securities involve greater risk to principal and income than higher-quality securities, including the possibility of default or bankruptcy of the issuers of the security. Like other fixed income securities, the value of high-yield securities will also fluctuate as interest rates rise. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_91E_ecustom--MortgageBackedAndAssetBackedSecuritiesRiskMember_zeFp4Br3N2b3">Mortgage-Backed and Asset-Backed Securities Risk</span>: </i>Mortgage-backed and other asset-backed securities may be particularly sensitive to changes in prevailing interest rates. Rising interest rates tend to extend the duration of mortgage-backed securities, making them more sensitive to changes in interest rates, and may reduce the market value of the securities, and by extension, the value of the Fund’s portfolio. Mortgage-backed securities are also subject to pre-payment risk. Due to their often-complicated structures, various mortgage-backed and asset-backed securities may be difficult to value and may constitute illiquid securities. Furthermore, debtors may be entitled to the protection of a number of state and federal consumer protection credit laws with respect to these securities, which may give the debtor the right to avoid or reduce payment. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_91B_ecustom--U.S.GovernmentSecuritiesRiskMember_zThJecxwsMYk">U.S. Government Securities Risk</span>: </i>The Fund invests in securities issued or guaranteed by the U.S. government or its agencies or instrumentalities (such as Fannie Mae or Freddie Mac securities). Although U.S. government securities issued directly by the U.S. government are guaranteed by the U.S. Treasury, other U.S. government securities issued by an agency or instrumentality of the U.S. government may not be. No assurance can be given that the U.S. government would provide financial support to its agencies and instrumentalities if not required to do so by law. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Cybersecurity Risk: </i>With the increased use of technologies such as the Internet to conduct business, the Fund is susceptible to operational, information security, and related risks. Cyber incidents affecting the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Fund’s ability to calculate its NAV, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs. </p> </td> </tr> </table> Bar Chart and Performance Tables <p id="xdx_A8D_eoef--PerformanceNarrativeTextBlock_zJVIjDtXMbF7" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_90F_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260430__20260430__dei--LegalEntityAxis__custom--S000006744Member_zKfRtzaigoJf">The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s Retail Class performance from year to year, and by showing how the Fund’s average annual returns for one-, five-, and ten-years compare with those of a broad-based securities market index.</span> <span id="xdx_90D_eoef--PerformancePastDoesNotIndicateFuture_c20260430__20260430__dei--LegalEntityAxis__custom--S000006744Member_zgoyeDUaAwR">The Fund’s past performance (before and after taxes) does not necessarily indicate how it will perform in the future.</span> Updated performance information is available on <span id="xdx_90D_eoef--PerformanceAvailabilityWebSiteAddress_c20260430__20260430__dei--LegalEntityAxis__custom--S000006744Member_zyFwagVvjXqa">https://cisbh.com/funds</span> or call toll-free <span id="xdx_90B_eoef--PerformanceAvailabilityPhone_c20260430__20260430__dei--LegalEntityAxis__custom--S000006744Member_z2IudnVAmWRe">(800) 392-2673</span>. </p> The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s Retail Class performance from year to year, and by showing how the Fund’s average annual returns for one-, five-, and ten-years compare with those of a broad-based securities market index. The Fund’s past performance (before and after taxes) does not necessarily indicate how it will perform in the future. https://cisbh.com/funds (800) 392-2673 SBH Plus Bond Fund Retail Class - Calendar Year Total Returns as of December 31 (%) 0.0382 0.0474 -0.0018 0.0879 0.0849 -0.0058 -0.1313 0.0747 0.0199 0.0738 <div id="xdx_A85_eoef--BarChartClosingTextBlock_za7y3rDAcZZf"></div> <table cellpadding="2" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="background-color: Gainsboro"> <td style="vertical-align: bottom; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_902_eoef--HighestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000006744Member__oef--ClassAxis__custom--C000018311Member_z3Remd0AUUgl">Highest Quarterly Return</span>: </b><span style="font-weight: normal; font-style: normal"><span id="xdx_904_eoef--BarChartHighestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000006744Member__oef--ClassAxis__custom--C000018311Member_zMV3aNuxqp2k">12/31/2023</span> <span id="xdx_90F_eoef--BarChartHighestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000006744Member__oef--ClassAxis__custom--C000018311Member_zoK7izePjjH4">7.24%</span></span></p></td> <td style="vertical-align: bottom; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_90F_eoef--LowestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000006744Member__oef--ClassAxis__custom--C000018311Member_zORqUY3k9Cv5">Lowest Quarterly Return</span>: </b><span style="font-weight: normal; font-style: normal"><span id="xdx_905_eoef--BarChartLowestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000006744Member__oef--ClassAxis__custom--C000018311Member_zrPA7JfpLODl">3/31/2022</span> <span id="xdx_904_eoef--BarChartLowestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000006744Member__oef--ClassAxis__custom--C000018311Member_zrNJU9t2Vbm9">(5.85)%</span></span></p></td> </tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The returns above are for the Retail Class of the Fund. The Institutional Class would have substantially similar annual returns to the Retail Class because the classes are invested in the same portfolio securities. The Institutional Class’ returns will be higher over the long-term when compared to the Retail Class’ returns to the extent that the Retail Class has higher expenses. </p> Highest Quarterly Return 2023-12-31 0.0724 Lowest Quarterly Return 2022-03-31 -0.0585 Average Annual Total Returns (for the Periods Ended December 31, 2025) <p id="xdx_A83_eoef--PerformanceTableNarrativeTextBlock_zGyEbgzICej" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_905_eoef--PerformanceTableUsesHighestFederalRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000006744Member_zeD4iqYWnLX">After-tax returns for the Retail Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</span> Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. <span id="xdx_902_eoef--PerformanceTableOneClassOfAfterTaxShown_c20260430__20260430__dei--LegalEntityAxis__custom--S000006744Member_zMojoZYbE8W5">After-tax returns are shown only for the Retail Class, after-tax returns for the Institutional Class will be different.</span> <span id="xdx_90A_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260430__20260430__dei--LegalEntityAxis__custom--S000006744Member_zAa8bpHP6s28">After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts.</span> </p> After-tax returns for the Retail Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown only for the Retail Class, after-tax returns for the Institutional Class will be different. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts. 0.0738 0.0033 0.0268 0.0558 -0.0111 0.0119 0.0434 -0.0037 0.0142 0.0751 0.0048 0.0283 0.0730 -0.0036 0.0201 SEGALL BRYANT & HAMILL QUALITY HIGH YIELD FUND Investment Objective <p id="xdx_A85_eoef--ObjectivePrimaryTextBlock_zl4rLXLHkwr4" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Segall Bryant &amp; Hamill Quality High Yield Fund (the “SBH Quality High Yield Fund” or “Fund”) seeks to achieve long-term total rate of return consistent with preservation of capital. </p> Fees and Expenses of the Fund <p id="xdx_A8F_eoef--ExpenseNarrativeTextBlock_zFUvtOE9Lxz7" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. <b>You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. </b></p> Shareholder Fees (fees paid directly from your investment) 12.00 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0045 0.0045 0 0 0.0060 0.0042 0.0025 0.0010 0.0035 0.0032 0.0105 0.0087 -0.0020 -0.0017 0.0085 0.0070 April 30, 2027 Example <p id="xdx_A86_eoef--ExpenseExampleNarrativeTextBlock_zwcuifGHacnf" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in either the Retail Class shares or the Institutional Class shares of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s total annual operating expenses remain the same. This Example reflects the net operating expenses with expense waivers for the one-year contractual period and the total operating expenses without expense waivers for years two through ten. </p> Although your actual costs may be higher or lower, based on these assumptions your costs would be: 87 314 560 1265 72 261 466 1057 <p id="xdx_A8A_eoef--ExpenseExampleNoRedemptionNarrativeTextBlock_zarWEZOu9ayj" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">Your expenses would be the same if you did not redeem your shares. </p> Portfolio Turnover <p id="xdx_A8C_eoef--PortfolioTurnoverTextBlock_zIeMlGXr73v2" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. A higher turnover rate may also result in higher taxes when Fund shares are held in a taxable account. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_900_eoef--PortfolioTurnoverRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000006753Member_zwCqFFOx7fbi">37%</span> of the average value of its portfolio. </p> 0.37 Principal Investment Strategies of the Fund <div id="xdx_A88_eoef--StrategyNarrativeTextBlock_z9EE64IjLYoh"></div> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund invests in a wide variety of income-producing securities, primarily through investments in bonds (which includes, but is not limited to, corporate bonds, government and agency securities, mortgage-backed securities, asset-backed securities, and zero coupon bonds), and to a lesser extent, through convertible bonds and equity securities, including both convertible and non-convertible preferred stock and common stock. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Under normal circumstances, the Fund will invest at least eighty percent (80%) of the value of its net assets plus any borrowings for investment purposes in “high yield” securities. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund considers “high yield” securities to include securities rated, at the time of purchase, below investment grade by at least one nationally recognized rating agency, such as Moody’s or Standard &amp; Poor’s (a “Rating Agency”) or are unrated and determined to be of comparable quality by the Adviser and may include securities that are already in default. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Although the Fund normally focuses on U.S. dollar-denominated securities, the Fund may invest up to twenty-five percent (25%) in non-U.S. dollar-denominated securities. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund emphasizes investments in corporate bonds, which may generate more income than government securities. Corporate bonds also provide opportunities for the portfolio management team’s research to identify companies with stable or improving credit characteristics, which may result in price appreciation. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund may invest in other securities, including equity securities, primarily common and preferred stock, trust preferred securities, debt issued by REITs, mortgage-backed, and asset-backed securities, which may also offer higher yield than government securities. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund’s portfolio management team implements an investment strategy that is based on the belief that consistently strong risk-adjusted returns are best achieved through an emphasis on securities with higher income streams (typically non-Treasury sectors). The portfolio management team seeks to deliver alpha, or risk-adjusted excess return, relative to the Fund’s benchmark, primarily through security and sector selection and, secondarily, through portfolio level decisions. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Using a collaborative approach grounded in proprietary research, the team constructs a diversified portfolio with a “quality” focus by issuer to seek to minimize issuer-specific credit risk. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Credit analysis is at the core of the investment process, as the team believes attractively-valued opportunities between sectors and securities are most effectively captured through proprietary fundamental research and a long-term investment orientation. The process also leverages the resources of the Adviser’s equity research teams, providing diverse perspectives and added knowledge about the securities the team analyzes. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Securities may be sold when conditions have changed and the security’s prospects are no longer attractive, the security has achieved the team’s valuation target or better relative investment opportunities have been identified. </p> </td> </tr> </table> Risk is inherent in all investing, and you could lose money by investing in the Fund. <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Below-Investment Grade Securities Risk: </i>High-yield fixed income securities, sometimes referred to as “junk” bonds, are considered speculative. While generally providing greater income than investments in higher-quality securities, these lower quality securities involve greater risk to principal and income than higher-quality securities, including the possibility of default or bankruptcy of the issuers of the security. Like other fixed income securities, the value of high-yield securities will also fluctuate as interest rates rise. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Credit Risk:</i> An issuer may be unable to make principal and interest payments when due or that the price of the security changes due to a downgrade in the credit quality of the issuer. In such cases, the value of the Fund’s portfolio could fall. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Issuer Risk: </i>The value of a security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. The value of an issuer’s security may deteriorate because of a variety of factors, including, but not limited to, disappointing earnings reports by the issuer, unsuccessful products or services, loss of major customers, major litigation against the issuer or changes in government regulations affecting the issuer or the competitive environment. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Corporate Bond Risk:</i> The investment return of corporate bonds reflects interest earned on the security and changes in the market value of the security. The market value of a corporate bond may be affected by changes in interest rates, the credit rating of the corporation, the corporation’s performance and perceptions of the corporation in the marketplace. The market value of a corporate bond generally may be expected to rise and fall inversely with interest rates. The market value of intermediate and longer-term corporate bonds is generally more sensitive to changes in interest rates than is the market value of shorter-term corporate bonds. Corporate bonds are also subject to the credit risk of the issuer, as the issuer of corporate bonds may not be able to meet their obligations on interest or principal payments at the time called for by an instrument. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Extension Risk: </i>The Fund is subject to the risk that an issuer will exercise its right to pay principal on an obligation held by the Fund (such as a mortgage or asset-backed security) later than expected. This may happen when there is a rise in interest rates. These events may lengthen the duration and potentially reduce the value of these securities. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Prepayment Risk:</i> A general decline in interest rates may result in prepayments of certain obligations the Fund will acquire. These prepayments may require the Fund to reinvest at a lower rate of return. They may also reduce the Fund’s share price because the value of those securities may depreciate or may not appreciate as rapidly as debt securities, which cannot be prepaid. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Market Risk: </i>As with any fund, the value of your investment will fluctuate over time in response to overall movements in the market. The value of a security or other asset may decline due to changes in general market conditions, economic trends or events that are not specifically related to the issuer of the security or other asset, or factors that affect a particular issuer or issuers, country, group of countries, region, market industry, group of industries, sector or asset class. Local, regional, or global events such as war, acts of terrorism, the spread of infections, illness or other public health issues, recessions, tariffs and other similar economic arrangements, or other events could have a significant impact on the Fund and its investments. During a general market downturn, multiple asset classes may be negatively affected. Changes in market conditions and interest rates generally do not have the same impact on all types of securities and instruments. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Fixed Income Securities Risk: </i>Fixed income securities markets may, in response to governmental intervention, economic or market developments (including potentially a reduction in the number of broker-dealers willing to engage in market-making activity), or other factors, experience periods of increased volatility and reduced liquidity. Additionally, there is a possibility that the Fund’s income may decline due to a decrease in interest rates. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Portfolio Management Risk: </i>The Fund is subject to the risk that particular types of securities held will underperform other securities and/or may decline in value. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Interest Rate Risk:</i> A principal risk of investing in the Fund is that the value of a fixed income portfolio will generally decrease when interest rates rise, which means the Fund’s net asset value (“NAV”) will likewise decrease. Generally, debt securities decrease in value if interest rates rise and increase in value if interest rates fall, with longer term securities being more sensitive than shorter-term securities. For example, the approximate percentage change in the price of a security with a two-year duration would be expected to drop by approximately 2% in response to a 1% increase in interest rates. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Industrial Sector Risk:</i> The industrial sector can be significantly affected by, among other things, worldwide economic growth, supply and demand for specific products and services, rapid technological developments, international political and economic developments, environmental issues, tariffs and trade barriers, and tax and governmental regulatory policies. As the demand for, or prices of, industrials increase, the value of the Fund’s investments generally would be expected to also increase. Conversely, declines in the demand for, or prices of, industrials generally would be expected to contribute to declines in the value of such securities. Such declines may occur quickly and without warning and may negatively impact the value of the Fund and your investment. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Sector Focus Risk: </i>The Fund may, for finite periods and from time to time, make significant investments in a particular sector which may make the Fund more susceptible to adverse economic, business, regulatory or other developments affecting that sector. If an economic downturn occurs in a sector in which the Fund’s investments are focused, the Fund may perform poorly during that period. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Cybersecurity Risk:</i> With the increased use of technologies such as the Internet to conduct business, the Fund is susceptible to operational, information security, and related risks. Cyber incidents affecting the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial </p> </td> </tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 31.5pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">losses, interference with the Fund’s ability to calculate its NAV, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs. </p> Bar Chart and Performance Tables <p id="xdx_A8A_eoef--PerformanceNarrativeTextBlock_zl2oZOxNIN99" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_90F_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260430__20260430__dei--LegalEntityAxis__custom--S000006753Member_zQ3beCLZLgh">The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s Retail Class performance from year to year, and by showing how the Fund’s average annual returns for one-, five-, and ten-years compare with those of the Bloomberg U.S. Aggregate Bond Index, a broad-based securities market index, and the Bloomberg U.S. High Yield 2% Issuer Capped Index, an index more representative of the Fund’s investment strategy.</span> <span id="xdx_90D_eoef--PerformancePastDoesNotIndicateFuture_c20260430__20260430__dei--LegalEntityAxis__custom--S000006753Member_za6XBVde3sd9">The Fund’s past performance (before and after taxes) does not necessarily indicate how it will perform in the future.</span> Updated performance information is available on <span id="xdx_90D_eoef--PerformanceAvailabilityWebSiteAddress_c20260430__20260430__dei--LegalEntityAxis__custom--S000006753Member_ziazkXRGDBng">https://cisbh.com/funds</span> or call toll-free <span id="xdx_90B_eoef--PerformanceAvailabilityPhone_c20260430__20260430__dei--LegalEntityAxis__custom--S000006753Member_znCUPGRlE8Dh">(800) 392-2673</span>. </p> The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s Retail Class performance from year to year, and by showing how the Fund’s average annual returns for one-, five-, and ten-years compare with those of the Bloomberg U.S. Aggregate Bond Index, a broad-based securities market index, and the Bloomberg U.S. High Yield 2% Issuer Capped Index, an index more representative of the Fund’s investment strategy. The Fund’s past performance (before and after taxes) does not necessarily indicate how it will perform in the future. https://cisbh.com/funds (800) 392-2673 SBH Quality High Yield Fund Retail Class - Calendar Year Total Returns as of December 31 (%) 0.1275 0.0618 -0.0219 0.1221 0.0731 0.0314 -0.0975 0.1216 0.0553 0.0797 <div id="xdx_A88_eoef--BarChartClosingTextBlock_zC0g8njNEBjl"></div> <table cellpadding="2" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="background-color: Gainsboro"> <td style="vertical-align: bottom; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_902_eoef--HighestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000006753Member__oef--ClassAxis__custom--C000018320Member_zBSpnJvXeHn1">Highest Quarterly Return</span>: </b><span style="font-weight: normal; font-style: normal"><span id="xdx_904_eoef--BarChartHighestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000006753Member__oef--ClassAxis__custom--C000018320Member_zEwRQlPWCYeg">6/30/2020</span> <span id="xdx_90F_eoef--BarChartHighestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000006753Member__oef--ClassAxis__custom--C000018320Member_zQU3WazX0w4i">9.12%</span></span></p></td> <td style="vertical-align: bottom; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_90F_eoef--LowestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000006753Member__oef--ClassAxis__custom--C000018320Member_z6rUhkNfpHG9">Lowest Quarterly Return</span>: </b><span style="font-weight: normal; font-style: normal"><span id="xdx_905_eoef--BarChartLowestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000006753Member__oef--ClassAxis__custom--C000018320Member_z6cKgQOJ3cAk">3/31/2020</span> <span id="xdx_904_eoef--BarChartLowestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000006753Member__oef--ClassAxis__custom--C000018320Member_ziuXXhV6P0Pf">(9.42)%</span></span></p></td> </tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The returns above are for the Retail Class of the Fund. The Institutional Class would have substantially similar annual returns to the Retail Class because the classes are invested in the same portfolio securities. The Institutional Class’ returns will be higher over the long-term when compared to the Retail Class’ returns to the extent that the Retail Class has higher expenses. </p> Highest Quarterly Return 2020-06-30 0.0912 Lowest Quarterly Return 2020-03-31 -0.0942 Average Annual Total Returns (for the Periods Ended December 31, 2025) <p id="xdx_A86_eoef--PerformanceTableNarrativeTextBlock_z7LrElxNR6Dh" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_905_eoef--PerformanceTableUsesHighestFederalRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000006753Member_zx269cgObmF7">After-tax returns for the Retail Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</span> Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. <span id="xdx_902_eoef--PerformanceTableOneClassOfAfterTaxShown_c20260430__20260430__dei--LegalEntityAxis__custom--S000006753Member_zOpbWDDtrpDc">After-tax returns are shown only for the Retail Class, after-tax returns for the Institutional Class will be different.</span> <span id="xdx_90A_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260430__20260430__dei--LegalEntityAxis__custom--S000006753Member_zkhrQ4Kus2Z9">After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts.</span> </p> After-tax returns for the Retail Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown only for the Retail Class, after-tax returns for the Institutional Class will be different. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts. 0.0797 0.0353 0.0531 0.0616 0.0183 0.0345 0.0468 0.0194 0.0328 0.0799 0.0368 0.0547 0.0862 0.0450 0.0652 0.0730 -0.0036 0.0201 SEGALL BRYANT & HAMILL MUNICIPAL OPPORTUNITIES FUND Investment Objective <p id="xdx_A82_eoef--ObjectivePrimaryTextBlock_zo0Oi8miybkj" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Segall Bryant &amp; Hamill Municipal Opportunities Fund (the “SBH Municipal Opportunities Fund” or “Fund”) seeks income exempt from Federal income taxes. </p> Fees and Expenses of the Fund <p id="xdx_A8F_eoef--ExpenseNarrativeTextBlock_zKyTkbkNSIvk" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. <b>You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</b> </p> Shareholder Fees (fees paid directly from your investment) 12.00 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0035 0.0035 0 0 0.0050 0.0026 0.0025 0.0010 0.0025 0.0016 0.0085 0.0061 -0.0020 -0.0011 0.0065 0.0050 April 30, 2027 Example <p id="xdx_A89_eoef--ExpenseExampleNarrativeTextBlock_zADqhHXablj4" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 either in the Retail Class shares or Institutional Class shares of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s total annual operating expenses remain the same. This Example reflects the net operating expenses with expense waivers for the one-year contractual period and the total operating expenses without expense waivers for years two through ten. </p> Although your actual costs may be higher or lower, based on these assumptions your costs would be: 66 251 452 1030 51 184 329 752 <p id="xdx_A88_eoef--ExpenseExampleNoRedemptionNarrativeTextBlock_zDbsZhCBpbq2" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">Your expenses would be the same if you did not redeem your shares. </p> Portfolio Turnover <p id="xdx_A84_eoef--PortfolioTurnoverTextBlock_zheNaKgRuYwg" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. A higher turnover rate may also result in higher taxes when Fund shares are held in a taxable account. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_900_eoef--PortfolioTurnoverRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000055877Member_zOtVNwCWAyi9">77%</span> of the average value of its portfolio. </p> 0.77 Principal Investment Strategies of the Fund <div id="xdx_A87_eoef--StrategyNarrativeTextBlock_zO7nxSlS1gx9"></div> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund focuses primarily on investment-grade quality municipal bonds that are rated in one of the four highest investment-grade categories at the time of purchase by one or more nationally recognized rating agencies such as Moody’s or Standard &amp; Poor’s (“Rating Agencies”). </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Under normal circumstances, the Fund will invest at least eighty percent (80%) of the value of its net assets, plus any borrowings for investment purposes, in municipal bonds. The portfolio management team understands municipal bonds to include debt obligations issued by or on behalf of a governmental entity or other qualifying issuer. Issuers may be states, territories, and possessions of the United States, including the District of Columbia, and their political subdivisions, agencies and instrumentalities. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund expects to maintain a dollar-weighted average duration of four to seven years and a dollar-weighted average effective maturity of five to 12 years, under normal circumstances. Duration is a measure that indicates the price sensitivity of a fixed-income security to changes in interest rates. It reflects the weighted average time it takes to receive all cash flows (both coupon payments and principal repayment) from a fixed income security. A higher duration means a greater sensitivity to interest rate changes indicating more interest rate risk. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund may invest up to thirty percent (30%) of its total assets at the time of purchase in municipal bonds rated below investment grade (commonly referred to as “junk” bonds). </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund may invest in unrated bonds. The portfolio management team determines the comparable quality of such instruments to determine if they meet the Fund’s rating requirements. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The team researches the financial condition of various counties, public projects, school districts and taxing authorities to seek to fully understand the issuer’s ability to generate revenues or levy taxes in order to meet its obligations. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">If the team identifies what it believes are relative valuation opportunities, the Fund may invest up to twenty percent (20%) of its total net assets at time of purchase in taxable bonds including, but not limited to, corporate bonds, taxable municipal bonds, government and agency securities, mortgage-backed securities, asset-backed securities, and zero coupon bonds. The Fund may invest up to half of this allocation in taxable “junk” bonds. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund may, from time to time, invest up to ten percent (10%) of its total net assets at time of purchase in other investment companies and vehicles, including but not limited to, exchange-traded funds (ETFs) and closed-end funds. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Securities may be sold when conditions have changed and the security’s prospects are no longer attractive, the security has achieved the team’s valuation target, or better relative investment opportunities have been identified. However, an important consideration in all sell decisions is whether the sale would generate a possible realized capital gain. </p> </td> </tr> </table> Risk is inherent in all investing, and you could lose money by investing in the Fund. <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_91D_ecustom--MunicipalSecuritiesRiskMember_zXmeFDDPeY26">Municipal Securities Risk</span>:</i> The Fund will be highly impacted by events tied to the overall municipal securities markets, which can be very volatile and significantly affected by unfavorable legislative or political developments and adverse changes in the financial conditions of municipal securities issuers and the economy. Certain sectors of the municipal bond market have special risks that can impact such sectors more significantly than the market as a whole. The securities in which the Fund invests may not be guaranteed by the United States government or supported by the full faith and credit of the United States. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Credit Risk: </i>An issuer may be unable to make principal and interest payments when due or that the price of the security changes due to a downgrade in the credit quality of the issuer. In such cases, the value of the Fund’s portfolio could fall. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Fixed Income Securities Risk:</i> Fixed income securities markets may, in response to governmental intervention, economic or market developments (including potentially a reduction in the number of broker-dealers willing to engage in market-making activity), or other factors, experience periods of increased volatility and reduced liquidity. Additionally, there is a possibility that the Fund’s income may decline due to a decrease in interest rates. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Market Risk:</i> As with any fund, the value of your investment will fluctuate over time in response to overall movements in the market. The value of a security or other asset may decline due to changes in general market conditions, economic trends or events that are not specifically related to the issuer of the security or other asset, or factors that affect a particular issuer or issuers, country, group of countries, region, market industry, group of industries, sector or asset class. Local, regional, or global events such as war, acts of terrorism, the spread of infections, illness or other public health issues, recessions, tariffs and other similar economic arrangements, or other events could have a significant impact on the Fund and its investments. During a general market downturn, multiple asset classes may be negatively affected. Changes in market conditions and interest rates generally do not have the same impact on all types of securities and instruments. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Issuer Risk: </i>The value of a security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. The value of an issuer’s security may deteriorate because of a variety of factors, including, but not limited to, disappointing earnings reports by the issuer, unsuccessful products or services, loss of major customers, major litigation against the issuer or changes in government regulations affecting the issuer or the competitive environment. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Portfolio Management Risk: </i>The Fund is also subject to the risk that particular types of securities held will underperform other securities and/or may decline in value. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_917_ecustom--StatesAndU.S.TerritoriesMember_zG6BKYkQoBL4">States and U.S. Territories</span>:</i> The Fund’s portfolio is expected to be diversified among issuers of municipal securities. From time to time, however, the Fund may have a significant position in the municipal securities of a particular state or territory, such as Puerto Rico. Under these circumstances, events in that state or territory may affect the Fund’s investments and performance. These events may include economic or political policy changes, tax base erosion, constitutional limits or tax increases, budget deficits or other financial difficulties, and changes in the credit ratings assigned to municipal issuers of the state or territory. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Interest Rate Risk:</i> A principal risk of investing in the Fund is that the value of a fixed-income portfolio will generally decrease when interest rates rise, which means the Fund’s net asset value (“NAV”) will likewise decrease. Generally, debt securities decrease in value if interest rates rise and increase in value if interest rates fall, with longer term securities being more sensitive than shorter-term securities. For example, the approximate percentage change in the price of a security with a two-year duration would be expected to drop by approximately 2% in response to a 1% increase in interest rates. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Extension Risk: </i>The Fund is also subject to the risk that an issuer will exercise its right to pay principal on an obligation held by the Fund (such as a mortgage- or asset-backed security) later than expected. This may happen when there is a rise in interest rates. These events may lengthen the duration and potentially reduce the value of these securities. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Prepayment Risk: </i>A general decline in interest rates may result in prepayments of certain obligations the Fund will acquire. These prepayments may require the Fund to reinvest at a lower rate of return. They may also reduce the Fund’s share price, because the value of those securities may depreciate or may not appreciate as rapidly as debt securities, which cannot be prepaid. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_914_ecustom--TaxRiskMember_zYlqZxCLZGMf">Tax Risk</span>:</i> The Fund may be adversely impacted by changes in tax rates, tax laws and tax policies. Distributions from the Fund may be taxable. The qualification of bonds owned by the Fund as tax-exempt may be challenged by the IRS or by a state taxing authority because of interpretations by taxing authorities or noncompliant conduct of a municipality, and/or may be adversely affected by future legislative, administrative or judicial activity. In addition, a portion of the Fund’s otherwise tax-exempt dividends may be taxable to shareholders that are subject to the alternative minimum tax. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Portfolio Turnover Risk: </i>Active and frequent trading of the Fund’s portfolio securities may lead to higher transaction costs and may result in a greater number of taxable transactions than would otherwise be the case, which could negatively affect the Fund’s performance. A high rate of portfolio turnover is 100% or more. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Below-Investment Grade Securities Risk:</i> High-yield fixed income securities, sometimes referred to as “junk” bonds, are considered speculative. While generally providing greater income than investments in higher-quality securities, these lower-quality securities involve greater risk to principal and income than higher-quality securities, including the possibility of default or bankruptcy of the issuers of the security. Like other fixed income securities, the value of high-yield securities will also fluctuate as interest rates change. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_91A_ecustom--MunicipalSecuritiesInsuranceRiskMember_zv9Wj03J1gn4">Municipal Securities Insurance Risk</span>:</i> Municipal securities insurance, which is usually purchased by the bond issuer from a private, non-governmental insurance company, provides an unconditional and irrevocable guarantee that the insured bond’s principal and interest will be paid when due. Insurance does not guarantee the price of the bond or the share price of any fund. Although defaults on insured municipal bonds have been low to date and municipal bond insurers have met their claims, there is no assurance this will continue. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Cybersecurity Risk: </i>With the increased use of technologies such as the Internet to conduct business, the Fund is susceptible to operational, information security, and related risks. Cyber incidents affecting the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Fund’s ability to calculate its NAV, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs. </p> </td> </tr> </table> Bar Chart and Performance Tables <p id="xdx_A89_eoef--PerformanceNarrativeTextBlock_zXbTogPtfG9c" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_90F_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260430__20260430__dei--LegalEntityAxis__custom--S000055877Member_zVRfc3lTTK3d">The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s Retail Class performance from year to year, and by showing how the Fund’s average annual returns for one-year, five-years, and since inception compare with those of the Bloomberg Municipal Bond Index, a broad-based securities market index, and the Bloomberg 1-15 Year Municipal Blend Index, an index more representative of the Fund’s investment strategy. </span><span id="xdx_90D_eoef--PerformancePastDoesNotIndicateFuture_c20260430__20260430__dei--LegalEntityAxis__custom--S000055877Member_z411bRO9jTjj">The Fund’s past performance (before and after taxes) does not necessarily indicate how it will perform in the future.</span> Updated performance information is available on <span id="xdx_90D_eoef--PerformanceAvailabilityWebSiteAddress_c20260430__20260430__dei--LegalEntityAxis__custom--S000055877Member_zIjdReixAxR6">https://cisbh.com/funds</span> or call toll-free <span id="xdx_90B_eoef--PerformanceAvailabilityPhone_c20260430__20260430__dei--LegalEntityAxis__custom--S000055877Member_zTMCrbFA0gh3">(800) 392-2673</span>. </p> The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s Retail Class performance from year to year, and by showing how the Fund’s average annual returns for one-year, five-years, and since inception compare with those of the Bloomberg Municipal Bond Index, a broad-based securities market index, and the Bloomberg 1-15 Year Municipal Blend Index, an index more representative of the Fund’s investment strategy. The Fund’s past performance (before and after taxes) does not necessarily indicate how it will perform in the future. https://cisbh.com/funds (800) 392-2673 SBH Municipal Opportunities Fund Retail Class - Calendar Year Total Returns as of December 31 (%) 0.0834 0.0132 0.0700 0.0654 0.0272 -0.1125 0.0534 0.0305 0.0507 <div id="xdx_A83_eoef--BarChartClosingTextBlock_zhpnHA8grSDk"></div> <table cellpadding="2" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="background-color: Gainsboro"> <td style="vertical-align: bottom; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_902_eoef--HighestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000055877Member__oef--ClassAxis__custom--C000176020Member_zQILsIwYeAx">Highest Quarterly Return</span>: </b><span style="font-weight: normal; font-style: normal"><span id="xdx_904_eoef--BarChartHighestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000055877Member__oef--ClassAxis__custom--C000176020Member_zIaOlWAcUIj7">12.31/2023</span> <span id="xdx_90F_eoef--BarChartHighestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000055877Member__oef--ClassAxis__custom--C000176020Member_z8oM2wvUrICh">5.72%</span></span></p></td> <td style="vertical-align: bottom; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_90F_eoef--LowestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000055877Member__oef--ClassAxis__custom--C000176020Member_zbpz06OBi3xg">Lowest Quarterly Return</span>:</b><span style="font-weight: normal; font-style: normal"> <span id="xdx_905_eoef--BarChartLowestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000055877Member__oef--ClassAxis__custom--C000176020Member_zfWuP2ljiFE7">3/31/2022</span> <span id="xdx_904_eoef--BarChartLowestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000055877Member__oef--ClassAxis__custom--C000176020Member_zlGDtLaGQxsg">(5.67)%</span></span></p></td> </tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The returns above are for the Retail Class of the Fund. The Institutional Class would have substantially similar annual returns to the Retail Class because the classes are invested in the same portfolio securities. The Institutional Class’ returns will be higher over the long-term when compared to the Retail Class’ returns to the extent that the Retail Class has higher expenses. </p> Highest Quarterly Return 2023-12-31 0.0572 Lowest Quarterly Return 2022-03-31 -0.0567 Average Annual Total Returns (for the Periods Ended December 31, 2025) <p id="xdx_A85_eoef--PerformanceTableNarrativeTextBlock_zbouQbrS1Hci" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_905_eoef--PerformanceTableUsesHighestFederalRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000055877Member_zxmVSk01eGuj">After-tax returns for the Retail Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</span> Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. <span id="xdx_902_eoef--PerformanceTableOneClassOfAfterTaxShown_c20260430__20260430__dei--LegalEntityAxis__custom--S000055877Member_zjfP4odIjZ11">After-tax returns are shown only for the Retail Class, after-tax returns for the Institutional Class will be different.</span> <span id="xdx_90A_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260430__20260430__dei--LegalEntityAxis__custom--S000055877Member_zwmaceUjcSe8">After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts. </span></p> After-tax returns for the Retail Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown only for the Retail Class, after-tax returns for the Institutional Class will be different. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts. 0.0507 0.0078 0.0312 0.0465 0.0041 0.0273 0.0399 0.0094 0.0280 0.0532 0.0093 0.0329 0.0518 0.0116 0.0259 0.0425 0.0080 0.0267 SEGALL BRYANT & HAMILL COLORADO TAX FREE FUND Investment Objective <p id="xdx_A82_eoef--ObjectivePrimaryTextBlock_z8u9ayovtGI9" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Segall Bryant &amp; Hamill Colorado Tax Free Fund (the “SBH Colorado Tax Free Fund” or “Fund”) seeks income exempt from both federal and Colorado state personal income taxes. </p> Fees and Expenses of the Fund <p id="xdx_A8F_eoef--ExpenseNarrativeTextBlock_zTH322vlcozf" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. <b>You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</b> </p> Shareholder Fees (fees paid directly from your investment) 12.00 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0035 0.0035 0 0 0.0037 0.0021 0.0025 0.0010 0.0012 0.0011 0.0072 0.0056 -0.0007 -0.0006 0.0065 0.0050 April 30, 2027 Example <p id="xdx_A85_eoef--ExpenseExampleNarrativeTextBlock_zE91XcB1Upoe" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Retail Class shares or the Institutional Class shares of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s total annual operating expenses remain the same. This Example reflects the net operating expenses with expense waivers for the one-year contractual period and the total operating expenses without expense waivers for years two through ten. </p> Although your actual costs may be higher or lower, based on these assumptions your costs would be: 66 223 394 888 51 173 307 696 <p id="xdx_A86_eoef--ExpenseExampleNoRedemptionNarrativeTextBlock_zgG0IZ8rWA96" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">Your expenses would be the same if you did not redeem your shares. </p> Portfolio Turnover <p id="xdx_A8B_eoef--PortfolioTurnoverTextBlock_zz6O1UV7vWz8" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. A higher turnover rate may also result in higher taxes when Fund shares are held in a taxable account. During the most recent fiscal year, the Fund’s portfolio turnover rate was <span id="xdx_900_eoef--PortfolioTurnoverRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000006745Member_z0BfbTEGUsU6">80%</span> of the average value of its portfolio. </p> 0.80 Principal Investment Strategies of the Fund <div id="xdx_A8F_eoef--StrategyNarrativeTextBlock_zl3F3McRPpMa"></div> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund focuses primarily on investment-grade quality municipal bonds that are rated in one of the three highest investment-grade categories at the time of purchase by one or more nationally recognized rating agencies such as Moody’s or Standard &amp; Poor’s (“Rating Agencies”). </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Under normal circumstances, the Fund will invest at least eighty percent (80%) of the value of its net assets, plus any borrowings for investment purposes, in securities, the income from which is exempt from both federal and Colorado state income tax. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Under normal circumstances, a minimum of 80% of the portfolio will be rated investment-grade at the time of purchase. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund may invest up to twenty percent (20%) of its total assets in municipal bonds rated below investment grade. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund may invest in unrated bonds. The portfolio management team determines the comparable quality of such instruments to determine if they meet the Fund’s rating requirements. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The team researches the financial condition of various counties, public projects, school districts, and taxing authorities to seek to fully understand the issuer’s ability to generate revenues or levy taxes in order to meet its obligations. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Given the Fund’s tax-exempt focus, the team also strives to maintain a low portfolio turnover in an effort to minimize the Fund’s capital gain distributions. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">In addition, the team generally avoids investing in municipal bonds that are subject to the alternative minimum tax but may do so if they believe they provide sufficient relative value. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The team seeks to purchase securities from many areas of Colorado to reduce the economic risk to the portfolio from any particular local economy within the state. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Securities may be sold when conditions have changed and the security’s prospects are no longer attractive, the security has achieved the team’s valuation target or better relative investment opportunities have been identified. However, an important consideration in all sell decisions is whether the sale would generate a possible realized capital gain. </p> </td> </tr> </table> Risk is inherent in all investing, and you could lose money by investing in the Fund. <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_913_ecustom--StateSpecificRiskMember_zr0PjlcobfAk">State Specific Risk</span>: </i>The Fund is subject to the risk that it concentrates its investments in instruments issued by or on behalf of the state of Colorado. Due to the level of investment in municipal obligations issued by the state of Colorado and its political subdivisions, the performance of the Fund will be closely tied to the economic and political conditions in the state of Colorado. Therefore, an investment in the Fund may be riskier than an investment in other types of municipal bond funds, such as a national tax-exempt fund. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Municipal Securities Risk:</i> The Fund will be highly impacted by events tied to the overall municipal securities markets, which can be very volatile and significantly affected by unfavorable legislative or political developments and adverse changes in the financial conditions of municipal securities issuers and the economy. Certain sectors of the municipal bond market have special risks that can impact such sectors more significantly than the market as a whole. The securities in which the Fund invests may not be guaranteed by the United States government or supported by the full faith and credit of the United States. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Credit Risk:</i> An issuer may be unable to make principal and interest payments when due or that the price of the security changes due to a downgrade in the credit quality of the issuer. In such cases, the value of the Fund’s portfolio could fall. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Fixed Income Securities Risk: </i>Fixed income securities markets may, in response to governmental intervention, economic or market developments (including potentially a reduction in the number of broker-dealers willing to engage in market-making activity), or other factors, experience periods of increased volatility and reduced liquidity. Additionally, there is a possibility that the Fund’s income may decline due to a decrease in interest rates. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Market Risk:</i> As with any fund, the value of your investment will fluctuate over time in response to overall movements in the market. The value of a security or other asset may decline due to changes in general market conditions, economic trends or events that are not specifically related to the issuer of the security or other asset, or factors that affect a particular issuer or issuers, country, group of countries, region, market industry, group of industries, sector or asset class. Local, regional, or global events such as war, acts of terrorism, the spread of infections, illness or other public health issues, recessions, tariffs and other similar economic arrangements, or other events could have a significant impact on the Fund and its investments. During a general market downturn, multiple asset classes may be negatively affected. Changes in market conditions and interest rates generally do not have the same impact on all types of securities and instruments. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Issuer Risk: </i>The value of a security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. The value of an issuer’s security may deteriorate because of a variety of factors, including, but not limited to, disappointing earnings reports by the issuer, unsuccessful products or services, loss of major customers, major litigation against the issuer or changes in government regulations affecting the issuer or the competitive environment. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Portfolio Management Risk: </i>The Fund is also subject to the risk that particular types of securities held will underperform other securities and/or may decline in value. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Tax Risk: </i>The Fund may be adversely impacted by changes in tax rates, tax laws and tax policies. Distributions from the Fund may be taxable. The qualification of bonds owned by the Fund as tax-exempt may be challenged by the IRS or by a state taxing authority because of interpretations by taxing authorities or noncompliant conduct of a municipality, and/or may be adversely affected by future legislative, administrative or judicial activity. In addition, a portion of the Fund’s otherwise tax-exempt dividends may be taxable to shareholders that are subject to the alternative minimum tax. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Non-Diversification Risk:</i> The Fund is a non-diversified fund even though the portfolio management team generally limits investments in any one issuer to less than 5% at the time of purchase. This is because many Colorado municipal securities are guaranteed by the State of Colorado, and as such, must be considered as being backed by the same entity. Funds that are considered non-diversified under the Investment Company Act of 1940 may be considered a greater risk when compared to a diversified fund. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Interest Rate Risk:</i> A principal risk of investing in the Fund is that the value of a fixed-income portfolio will generally decrease when interest rates rise, which means the Fund’s net asset value (“NAV”) will likewise decrease. Generally, debt securities decrease in value if interest rates rise and increase in value if interest rates fall, with longer term securities being more sensitive than shorter-term securities. For example, the approximate percentage change in the price of a security with a two-year duration would be expected to drop by approximately 2% in response to a 1% increase in interest rates. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Extension Risk: </i>The Fund is also subject to the risk that an issuer will exercise its right to pay principal on an obligation held by the Fund (such as a mortgage- or asset-backed security) later than expected. This may happen when there is a rise in interest rates. These events may lengthen the duration and potentially reduce the value of these securities. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Prepayment Risk: </i>A general decline in interest rates may result in prepayments of certain obligations the Fund will acquire. These prepayments may require the Fund to reinvest at a lower rate of return. They may also reduce the Fund’s share price, because the value of those securities may depreciate or may not appreciate as rapidly as debt securities, which cannot be prepaid. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Municipal Securities Insurance Risk:</i> Municipal securities insurance, which is usually purchased by the bond issuer from a private, non-governmental insurance company, provides an unconditional and irrevocable guarantee that the insured bond’s principal and interest will be paid when due. Insurance does not guarantee the price of the bond or the share price of any fund. Although defaults on insured municipal bonds have been low to date and municipal bond insurers have met their claims, there is no assurance this will continue. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Cybersecurity Risk: </i>With the increased use of technologies such as the Internet to conduct business, the Fund is susceptible to operational, information security, and related risks. Cyber incidents affecting the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Fund’s ability to calculate its NAV, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs. </p> </td> </tr> </table> Bar Chart and Performance Tables <p id="xdx_A88_eoef--PerformanceNarrativeTextBlock_zh0bYYNWd2I9" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s Retail Class performance from year to year, and by showing how the Fund’s average annual returns for one-, five-, and ten-years compare with those of the Bloomberg Municipal Bond Index, a broad-based securities market index, and the Bloomberg</p> <p style="font: 0pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_90F_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260430__20260430__dei--LegalEntityAxis__custom--S000006745Member_zuQEVTH8HMT2" style="display: none">The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s Retail Class performance from year to year, and by showing how the Fund’s average annual returns for one-, five-, and ten-years compare with those of the Bloomberg Municipal Bond Index, a broad-based securities market index, and the Bloomberg 1-15 Year Municipal Blend Index, an index more representative of the Fund’s investment strategy.</span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">1-15 Year Municipal Blend Index, an index more representative of the Fund’s investment strategy. <span id="xdx_90D_eoef--PerformancePastDoesNotIndicateFuture_c20260430__20260430__dei--LegalEntityAxis__custom--S000006745Member_znzONXi0t0yj">The Fund’s past performance (before and after taxes) does not necessarily indicate how it will perform in the future.</span> Updated performance information is available on <span id="xdx_90D_eoef--PerformanceAvailabilityWebSiteAddress_c20260430__20260430__dei--LegalEntityAxis__custom--S000006745Member_z4KsbQw20nje">https://cisbh.com/funds</span> or call toll-free <span id="xdx_90B_eoef--PerformanceAvailabilityPhone_c20260430__20260430__dei--LegalEntityAxis__custom--S000006745Member_zYGcITIM8Ow1">(800) 392-2673</span>. </p> The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s Retail Class performance from year to year, and by showing how the Fund’s average annual returns for one-, five-, and ten-years compare with those of the Bloomberg Municipal Bond Index, a broad-based securities market index, and the Bloomberg 1-15 Year Municipal Blend Index, an index more representative of the Fund’s investment strategy. The Fund’s past performance (before and after taxes) does not necessarily indicate how it will perform in the future. https://cisbh.com/funds (800) 392-2673 SBH Colorado Tax Free Fund Retail Class - Calendar Year Total Returns as of December 31 (%) -0.0007 0.0512 0.0069 0.0662 0.0508 0.0187 -0.1064 0.0502 0.0239 0.0329 <div id="xdx_A8C_eoef--BarChartClosingTextBlock_z6npD5lPxs93"></div> <table cellpadding="2" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="background-color: Gainsboro"> <td style="vertical-align: top; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_902_eoef--HighestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000006745Member__oef--ClassAxis__custom--C000018312Member_zakUtRyhwMDa">Highest Quarterly Return</span>: </b><span style="font-weight: normal; font-style: normal"><span id="xdx_904_eoef--BarChartHighestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000006745Member__oef--ClassAxis__custom--C000018312Member_zUmN51katTve">12/31/2023</span> <span id="xdx_90F_eoef--BarChartHighestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000006745Member__oef--ClassAxis__custom--C000018312Member_z5lC9MgScOi9">6.27%</span></span></p></td> <td style="vertical-align: top; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_90F_eoef--LowestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000006745Member__oef--ClassAxis__custom--C000018312Member_zfcFsrD3VGhb">Lowest Quarterly Return</span>: </b><span style="font-weight: normal; font-style: normal"><span id="xdx_905_eoef--BarChartLowestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000006745Member__oef--ClassAxis__custom--C000018312Member_zD3E1mg3s4Rd">3/31/2022</span> <span id="xdx_904_eoef--BarChartLowestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000006745Member__oef--ClassAxis__custom--C000018312Member_zeky6hbvkfH1">(4.98)%</span></span></p></td> </tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The returns above are for the Retail Class of the Fund. The Institutional Class would have substantially similar annual returns to the Retail Class because the classes are invested in the same portfolio securities. The Institutional Class’ returns will be higher over the long-term when compared to the Retail Class’ returns to the extent that the Retail Class has higher expenses. </p> Highest Quarterly Return 2023-12-31 0.0627 Lowest Quarterly Return 2022-03-31 -0.0498 Average Annual Total Returns (for the Periods Ended December 31, 2025) <p id="xdx_A82_eoef--PerformanceTableNarrativeTextBlock_z8p9gmDN8Hhd" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_905_eoef--PerformanceTableUsesHighestFederalRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000006745Member_zuD7cdtDqENc">After-tax returns for the Retail Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</span> Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. <span id="xdx_90A_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260430__20260430__dei--LegalEntityAxis__custom--S000006745Member_zww5946B8BYj">After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts.</span> </p> After-tax returns for the Retail Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts. 0.0329 0.0022 0.0183 0.0304 0.0009 0.0170 0.0311 0.0071 0.0196 0.0342 0.0035 0.0196 0.0518 0.0116 0.0227 0.0425 0.0080 0.0234 Barrett Growth Fund Investment Objective <p id="xdx_A8B_eoef--ObjectivePrimaryTextBlock_zJcXSvjWHBih" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Barrett Growth Fund (the “Fund”) seeks to achieve long-term capital appreciation and to maximize after-tax returns. </p> Fees and Expenses of the Fund <p id="xdx_A8F_eoef--ExpenseNarrativeTextBlock_zEqDKBb3dIrj" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. <b>You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and the example below.</b> </p> Shareholder Fees (fees paid directly from your investment) 0 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0065 0 0.0083 0.0025 0.0058 0.0148 -0.0049 0.0099 April 30, 2027 Example <p id="xdx_A82_eoef--ExpenseExampleNarrativeTextBlock_z7pv58DMs9Lh" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Retail Class shares of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s total annual operating expenses remain the same. This Example reflects the net operating expenses with expense waivers for the one-year contractual period and the total operating expenses without expense waivers for years two through ten. </p> Although your actual costs may be higher or lower, based on these assumptions your costs would be: 101 420 761 1726 <p id="xdx_A81_eoef--ExpenseExampleNoRedemptionNarrativeTextBlock_zWKUuAG4qxCl" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">Your expenses would be the same if you did not redeem your shares. </p> Portfolio Turnover <p id="xdx_A82_eoef--PortfolioTurnoverTextBlock_zqYkcjqYptrg" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. A higher turnover rate may also result in higher taxes when Fund shares are held in a taxable account. For the most recent fiscal year ended, the Fund’s portfolio turnover rate was <span id="xdx_900_eoef--PortfolioTurnoverRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000081723Member_zwfpozk95CSl">8%</span> of the average value of its portfolio. </p> 0.08 Principal Investment Strategies of the Fund <div id="xdx_A87_eoef--StrategyNarrativeTextBlock_zmQvp2EHpdTb"></div> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund invests primarily in a diversified portfolio of common stocks of large- and mid-cap U.S. companies, as well as global companies traded on a U.S. exchange, selected by the Adviser. The Fund considers mid-cap companies to be companies with market capitalizations of approximately $2 billion to $15 billion and large-cap companies to be companies with market capitalizations greater than $15 billion. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Adviser utilizes fundamental research to identify companies that have strong growth and earnings potential and can be purchased at reasonable prices. Quantitative screens are employed of various databases to identify potential companies to research. When analyzing a company’s growth prospects, the Adviser evaluates the revenue growth opportunity, the opportunity for margin expansion and the financial strength to take advantage of opportunities. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Adviser focuses on identifying companies that will produce earnings and cash flow growth in excess of companies in the Standard &amp; Poor’s 500 Composite Stock Price Index (“S&amp;P 500^® Index”). </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">In addition to companies that produce superior earnings growth, the Adviser invests primarily in companies that generate free cash flow, are leaders in their respective industries, and have records that point to management’s focus on shareholder enhancement. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund has a long-term investment outlook and does not intend to use short-term trading as a primary means of achieving its investment objective. When the Adviser anticipates that individual stocks will be sold, it attempts to manage the liquidation process to take advantage of longer holding periods for favorable long-term capital gains tax rates in order to optimize the after-tax return to Fund shareholders. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund makes investments in companies that have solid long-term earnings prospects, and the Fund expects to hold these investments for prolonged periods of time, thereby avoiding short-term capital gains. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund may invest up to 25% of its net assets in foreign securities and will normally make such investments through the purchase of American Depositary Receipts (“ADRs”). </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Stocks are sold when there is likely to be deterioration in earnings growth or other financial metrics, including balance sheet items. Maintaining a competitive industry position and management stability are also important factors in retaining a company position. Unusually weak relative stock market performance is another signal that prompts the Adviser to reevaluate a holding. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Adviser mitigates risk in several ways. In order to invest in a specific company, the Adviser carefully analyzes the company’s balance sheet and overall ability to withstand adverse economic conditions. More broadly, the Adviser diversifies the portfolio across multiple industries, economic sectors and geographic regions to reduce the risk of a particular industry’s or region’s weakness adversely affecting the Fund’s performance. Since the Adviser focuses on buying companies at reasonable valuations, the risk of overpaying for companies with strong earnings growth is also reduced. The Fund invests in companies across the large- and mid-capitalization spectrum which provides the Fund with exposure to companies of different revenue and earnings levels. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Finally, the Fund emphasizes objectivity in evaluating existing holdings and sells holdings when the fundamental outlook for a company is expected to deteriorate. </p> </td> </tr> </table> Risk is inherent in all investing, and you could lose money by investing in the Fund. <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Market Risk:</i> As with any fund, the value of your investment will fluctuate over time in response to overall movements in the stock market. Further, investments in common stocks tend to be more volatile than many other investment choices. The value of a security or other asset may decline due to changes in general market conditions, economic trends or events that are not specifically related to the issuer of the security or other asset, or factors that affect a particular issuer or issuers, country, group of countries, region, market industry, group of industries, sector or asset class. Local, regional, or global events such as war, acts of terrorism, the spread of infections, illness or other public health issues, recessions, </p> </td> </tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 31.5pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">tariffs and other similar economic arrangements, or other events could have a significant impact on the Fund and its investments. During a general market downturn, multiple asset classes may be negatively affected. Changes in market conditions and interest rates generally do not have the same impact on all types of securities and instruments. </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Equity Securities Risk: </i>Investments in common stocks and other equity securities are particularly subject to the risk of changing economic, stock market, industry and company conditions and the risks inherent in the ability to anticipate such changes that can adversely affect the value of portfolio holdings. Preferred stock is subject to the risk that the dividend on the stock may be changed or omitted by the issuer and that participation in the growth of an issuer may be limited. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Issuer Risk:</i> The value of a security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. The value of an issuer’s security may deteriorate because of a variety of factors, including, but not limited to, disappointing earnings reports by the issuer, unsuccessful products or services, loss of major customers, major litigation against the issuer or changes in government regulations affecting the issuer or the competitive environment. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Portfolio Management Risk: </i>The Fund is subject to the risk that the securities held by the Fund will underperform other securities and/or may decline in value. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Growth Investing Risk:</i> The Fund invests in companies that appear to be growth-oriented companies. If the Adviser’s perceptions of a company’s growth potential are wrong, the securities purchased may not perform as expected, causing losses that will reduce the Fund’s return. A portfolio may underperform other equity portfolios that use different investing styles. A portfolio may also underperform other equity portfolios using the growth style. Growth stocks as a group may be out of favor and underperform the overall equity market for a long period of time, for example, while the market favors “value” stocks. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Information Technology Sector Risk: </i>Information technology companies face intense competition, both domestically and internationally, which may have an adverse effect on profit margins. Like other technology companies, information technology companies may have limited product lines, markets, financial resources or personnel. The products of information technology companies may face obsolescence due to rapid technological developments, frequent new product introduction, unpredictable changes in growth rates and competition for the services of qualified personnel. Companies in the information technology sector are heavily dependent on patent and intellectual property rights. The loss, or impairment of, or inability to enforce, these rights may adversely affect the profitability of these companies. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Sector Focus Risk: </i>The Fund may, for finite periods and from time to time, make significant investments in a particular sector which may make the Fund more susceptible to adverse economic, business, regulatory or other developments affecting that sector. If an economic downturn occurs in a sector in which the Fund’s investments are focused, the Fund may perform poorly during that period. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_917_ecustom--LargeCapitalizationCompanyRiskMember_zTTbp4AP4wNh">Large-Capitalization Company Risk</span>:</i> Larger, more established companies may be unable to respond quickly to new competitive challenges such as changes in consumer tastes or innovative smaller competitors. Also, large-capitalization companies are sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_91D_ecustom--MediumSizedCompanyRiskMember_z1ZeOd6TR9Q2">Medium-Sized Company Risk</span>:</i> The medium-sized companies in which the Fund may invest may be more vulnerable to adverse business or economic events than larger, more established companies. In particular, these medium-sized companies may pose additional risks, including liquidity risk, because these companies tend to have limited product lines, markets, and financial resources, and may depend upon a relatively small management group. Medium-sized companies may be more thinly traded than larger, more established companies. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_912_ecustom--NetUnrealizedAppreciationRiskMember_zeMOSY6jT5cf">Net Unrealized Appreciation Risk</span>: </i>The Fund has a substantial amount of net unrealized appreciation. Subject to market conditions and Fund performance, the Adviser anticipates that, in managing the Fund’s investment portfolio in pursuit of the Fund’s investment objectives, a moderate portion of the Fund’s current built-in long-term capital gains will be realized gradually in each of the next several years. If these long-term capital gains are realized as anticipated, this will result in an increase in the Fund’s annual distributions of net capital gains and, accordingly, will generally result in taxable distributions to shareholders (other than certain shareholders that are exempt from tax on such income). </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Indirect Foreign Exposure Risk: </i>Investments in U.S.-traded securities that are organized under the laws of a foreign country or have significant business operations abroad may be impacted by certain foreign exposure risks indirectly. This includes securities in the form of sponsored and unsponsored depositary receipts. Unsponsored depositary receipts may be created without the participation of the foreign issuer. Holders of these depositary receipts generally bear all of the costs of the depositary facility and the bank or trust company depositary of an unsponsored depositary receipt may be under no obligation to distribute shareholder communications from the foreign issuer or to pass through voting rights. These risks will vary from time to time and from country to country, especially if the country is considered an emerging market or developing country. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>ADR and GDR Risk: </i>ADRs and GDRs may be subject to some of the same risks as direct investment in foreign companies, which includes international trade, currency, political, regulatory and diplomatic risks. In a sponsored ADR arrangement, the foreign issuer assumes the obligation to pay some or all of the Depository’s transaction fees. Under an unsponsored ADR arrangement, the foreign issuer assumes no obligations and the Depository’s transaction fees are paid directly by the ADR holders. Because unsponsored ADR arrangements are organized independently and without the cooperation of the issuer of the underlying securities, available information concerning the foreign issuer may not be as current as for sponsored ADRs and voting rights with respect to the deposited securities are not passed through. GDRs can involve additional currency risk since, unlike ADRs, they may not be U.S. Dollar-denominated. ADRs and GDRs may not trade at parity with the associated underlying security. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Cybersecurity Risk: </i>With the increased use of technologies such as the Internet to conduct business, the Fund is susceptible to operational, information security, and related risks. Cyber incidents affecting the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Fund’s ability to calculate its NAV, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs. </p> </td> </tr> </table> Bar Chart and Performance Tables <p id="xdx_A81_eoef--PerformanceNarrativeTextBlock_z3mN6cjRyFDg" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">On November 20, 2023, the Fund acquired all of the assets and liabilities of the Barrett Growth Fund, a series of the Trust for Professional Managers (the “Predecessor Fund”), an unaffiliated registered investment company. The Predecessor Fund was advised by Barrett Asset Management, LLC. Performance results shown in the bar chart and the performance table below for periods prior to November 20, 2023 reflect the performance of the Predecessor Fund. </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_90F_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260430__20260430__dei--LegalEntityAxis__custom--S000081723Member_zxgqDcWe4Hja">The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s performance from year to year, and by showing how the Fund’s average annual returns for one-, five- and ten-years (including performance of the Predecessor Fund, as described above), compare with those of a broad-based securities market index.</span> <span id="xdx_90D_eoef--PerformancePastDoesNotIndicateFuture_c20260430__20260430__dei--LegalEntityAxis__custom--S000081723Member_z2rEUEc2tG52">The Fund’s past performance (including the Predecessor Fund’s past performance), before and after taxes, is not necessarily an indication of how the Fund will perform in the future. </span></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">Updated performance information is available on <span id="xdx_90D_eoef--PerformanceAvailabilityWebSiteAddress_c20260430__20260430__dei--LegalEntityAxis__custom--S000081723Member_zqvsPqjht3rg">https://cisbh.com/funds</span> or call toll-free <span id="xdx_90B_eoef--PerformanceAvailabilityPhone_c20260430__20260430__dei--LegalEntityAxis__custom--S000081723Member_zsJy7xJ6n71a">(800) 392-2673</span>. </p> The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s performance from year to year, and by showing how the Fund’s average annual returns for one-, five- and ten-years (including performance of the Predecessor Fund, as described above), compare with those of a broad-based securities market index. The Fund’s past performance (including the Predecessor Fund’s past performance), before and after taxes, is not necessarily an indication of how the Fund will perform in the future. https://cisbh.com/funds (800) 392-2673 Barrett Growth Fund Retail Class - Calendar Year Total Returns as of December 31 (%) 0.0704 0.2101 -0.0040 0.3197 0.2898 0.2139 -0.2461 0.3293 0.2835 0.0810 <div id="xdx_A8F_eoef--BarChartClosingTextBlock_zgXFlODllhRg"></div> <table cellpadding="2" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="background-color: Gainsboro"> <td style="vertical-align: top; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_902_eoef--HighestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000081723Member__oef--ClassAxis__custom--C000244704Member_zsYCXryNUmz">Highest Quarterly Return</span>: </b><span style="font-weight: normal; font-style: normal"><span id="xdx_904_eoef--BarChartHighestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000081723Member__oef--ClassAxis__custom--C000244704Member_zO3UMg6TMoca">6/30/2020</span> <span id="xdx_90F_eoef--BarChartHighestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000081723Member__oef--ClassAxis__custom--C000244704Member_zG5ADvwgSD0i">22.72%</span></span></p></td> <td style="vertical-align: top; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_90F_eoef--LowestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000081723Member__oef--ClassAxis__custom--C000244704Member_zUBLFlltAuR9">Lowest Quarterly Return</span>: </b><span style="font-weight: normal; font-style: normal"><span id="xdx_905_eoef--BarChartLowestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000081723Member__oef--ClassAxis__custom--C000244704Member_z2FO0AYZjiu4">6/30/2022</span> <span id="xdx_904_eoef--BarChartLowestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000081723Member__oef--ClassAxis__custom--C000244704Member_zioKYwsnHRFj">(17.54)%</span></span></p></td> </tr> </table> Highest Quarterly Return 2020-06-30 0.2272 Lowest Quarterly Return 2022-06-30 -0.1754 Average Annual Total Returns (for the Periods Ended December 31, 2025) <p id="xdx_A8C_eoef--PerformanceTableNarrativeTextBlock_zjWvP80Zyvq4" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_905_eoef--PerformanceTableUsesHighestFederalRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000081723Member_z5o7u64YlPl3">After-tax returns for the Retail Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</span> Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. <span id="xdx_90A_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260430__20260430__dei--LegalEntityAxis__custom--S000081723Member_z7XKeQuXkzbi">After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts.</span> </p> After-tax returns for the Retail Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts. 0.0810 0.1104 0.1400 0.0540 0.0829 0.1213 0.0674 0.0824 0.1131 0.1788 0.1442 0.1482 <p id="xdx_A88_eoef--PerformanceTableClosingTextBlock_z6H3WV7gdXT1" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_907_eoef--PerformanceTableExplanationAfterTaxHigher_c20260430__20260430__dei--LegalEntityAxis__custom--S000081723Member_zcOLZ3ajpfmk">In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax benefit to the investor. </span></p> In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax benefit to the investor. Barrett Opportunity Fund Investment Objective <p id="xdx_A81_eoef--ObjectivePrimaryTextBlock_zCRjrwVCWdVb" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Barrett Opportunity Fund (the “Fund”) seeks to achieve above average long term capital appreciation. Current income is a secondary objective. </p> Fees and Expenses of the Fund <p id="xdx_A8C_eoef--ExpenseNarrativeTextBlock_zdMyqFLsVi8" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. <b>You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and the example below.</b> </p> Shareholder Fees (fees paid directly from your investment) 0 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0065 0 0.0090 0.0025 0.0065 0.0155 -0.0056 0.0099 April 30, 2027 Example <p id="xdx_A88_eoef--ExpenseExampleNarrativeTextBlock_zjIol0piN9N3" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Retail Class shares of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s total annual operating expenses remain the same. This Example reflects the net operating expenses with expense waivers for the one-year contractual period and the total operating expenses without expense waivers for years two through ten. </p> Although your actual costs may be higher or lower, based on these assumptions your costs would be: 101 435 792 1798 <p id="xdx_A8C_eoef--ExpenseExampleNoRedemptionNarrativeTextBlock_z2XU8fKpTWh" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">Your expenses would be the same if you did not redeem your shares. </p> Portfolio Turnover <p id="xdx_A84_eoef--PortfolioTurnoverTextBlock_zmMx6CyYPup6" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. A higher turnover rate may also result in higher taxes when Fund shares are held in a taxable account. For the most recent fiscal year ended, the Fund’s portfolio turnover rate was <span id="xdx_900_eoef--PortfolioTurnoverRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000081721Member_zQSbYupqDrOc">3%</span> of the average value of its portfolio. </p> 0.03 Principal Investment Strategies of the Fund <div id="xdx_A87_eoef--StrategyNarrativeTextBlock_zK8oxWycDEr"></div> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund invests primarily in common stocks. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">While the Adviser evaluates companies of all sizes, the Fund intends to invest primarily in companies with medium market capitalizations ($2 billion to $15 billion) and large market capitalizations (greater than $15 billion). </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund is classified as “non-diversified,” which means it may invest a larger percentage of its assets in a small number of issuers than a diversified fund. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Adviser seeks to identify those companies whose securities are undervalued based on the Adviser’s judgment of the company’s sustainable earnings growth. The Adviser employs fundamental analysis to analyze each company in detail, ranking the management, strategy and competitive market position. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">In selecting individual companies for investment, the Adviser considers how the following would affect a company’s earnings, the market price of its shares and the market’s evaluation of the company’s future earnings: </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 45pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">o </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Changes in management, policies, corporate control or capitalization; </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 45pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">o </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Changes in technology, marketing or production, the development of new products or services or the demand for existing products or services; </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 45pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">o </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The effect of recent and anticipated capital expenditures; and </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 45pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">o </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The effect of social, economic, political, legal and international developments. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund may invest without limit in securities of issuers located in the United States, as well as other securities that are publicly traded in the United States, including sponsored American Depositary Receipts. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Adviser emphasizes individual security selection while varying the Fund’s investments across industries, which may help to reduce risk. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Stocks may be sold when conditions have changed and the company’s prospects are no longer attractive, its stock price has achieved the team’s valuation target or better relative investment opportunities have been identified. </p> </td> </tr> </table> Risk is inherent in all investing, and you could lose money by investing in the Fund. <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Market Risk:</i> As with any fund, the value of your investment will fluctuate over time in response to overall movements in the stock market. Further, investments in common stocks tend to be more volatile than many other investment choices. The value of a security or other asset may decline due to changes in general market conditions, economic trends or events that are not specifically related to the issuer of the security or other asset, or factors that affect a particular issuer or issuers, country, group of countries, region, market industry, group of industries, sector or asset class. Local, regional, or global events such as war, acts of terrorism, the spread of infections, illness or other public health issues, recessions, tariffs and other similar economic arrangements, or other events could have a significant impact on the Fund and its investments. During a general market downturn, multiple asset classes may be negatively affected. Changes in market conditions and interest rates generally do not have the same impact on all types of securities and instruments. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Equity Securities Risk: </i>Investments in common stocks and other equity securities are particularly subject to the risk of changing economic, stock market, industry and company conditions and the risks inherent in the ability to anticipate such changes that can adversely affect the value of portfolio holdings. Preferred stock is subject to the risk that the dividend on the stock may be changed or omitted by the issuer and that participation in the growth of an issuer may be limited. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Issuer Risk: </i>The value of a security can go up or down more than the market as a whole and can perform differently from the value of the market as a whole, often due to events such as (but not limited to) disappointing earnings reports by the issuer, unsuccessful products or services, loss of major customers, major litigation against the issuer or changes in government regulations affecting the issuer or the competitive environment. The Fund may experience a substantial or complete loss on an individual security. Historically, the prices of securities of small- and medium-capitalization </p> </td> </tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 31.5pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">companies have generally gone up or down more than those of large capitalization companies because, among other things, small- and medium-capitalization companies may be more sensitive to changing economic conditions and tend to be less established than large capitalization companies, although even large capitalization companies may fall out of favor with investors. </p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Medium-Sized Company Risk:</i> The medium-sized companies in which the Fund may invest may be more vulnerable to adverse business or economic events than larger, more established companies. In particular, these medium-sized companies may pose additional risks, including liquidity risk, because these companies tend to have limited product lines, markets, and financial resources, and may depend upon a relatively small management group. Medium-sized companies may be more thinly traded than larger, more established companies. The Fund is subject to the risk that the securities held by the Fund will underperform other securities and/or may decline in value. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Sector Focus Risk: </i>The Fund may, for finite periods and from time to time, make significant investments in a particular sector which may make the Fund more susceptible to adverse economic, business, regulatory or other developments affecting that sector. If an economic downturn occurs in a sector in which the Fund’s investments are focused, the Fund may perform poorly during that period. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Large Capitalization Company Risk:</i> Historically, the prices of securities of small- and medium-capitalization companies have generally fluctuated more than those of large capitalization companies because, among other things, small- and medium-capitalization companies may be more sensitive to changing economic conditions and tend to be less established, however, large capitalization companies may fall out of favor with investors. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Portfolio Management Risk: </i>The Fund is subject to the risk that the securities held by the Fund will underperform other securities and/or may decline in value. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Value Investing Risk: </i>The value approach carries the risk that the market will not recognize a security’s intrinsic value for a long time, or that a stock considered to be undervalued may actually be appropriately priced. A portfolio may underperform other equity portfolios that use different investing styles. A portfolio may also underperform other equity portfolios using the value style. Value stocks as a group may be out of favor and underperform the overall equity market for a long period of time, for example, while the market favors “growth” stocks. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Net Unrealized Appreciation Risk:</i> The Fund has a substantial amount of net unrealized appreciation. Subject to market conditions and Fund performance, the Adviser anticipates that, in managing the Fund’s investment portfolio in pursuit of the Fund’s investment objectives, a moderate portion of the Fund’s current built-in long-term capital gains will be realized gradually in each of the next several years. If these long-term capital gains are realized as anticipated, this will result in an increase in the Fund’s annual distributions of net capital gains and, accordingly, will generally result in taxable distributions to shareholders (other than certain shareholders that are exempt from tax on such income). Under normal market conditions, the Adviser currently expects, but does not guarantee, that no more than 15% of the total amount of the Fund’s current built-in long-term capital gains will be realized in any one year. This expectation may change over the course of the year for a variety of reasons including, but not limited to, individual holdings, market events and changes in tax laws. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Non-diversification Risk: </i>The Fund is classified as “non-diversified,” which means it may invest a larger percentage of its assets in a smaller number of issuers than a diversified fund. To the extent the Fund invests its assets in fewer issuers, the Fund will be more susceptible to negative events affecting those issuers. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Indirect Foreign Exposure Risk: </i>Investments in U.S.-traded securities that are organized under the laws of a foreign country or have significant business operations abroad may be impacted by certain foreign exposure risks indirectly. This includes securities in the form of sponsored and unsponsored depositary receipts. Unsponsored depositary receipts may be created without the participation of the foreign issuer. Holders of these depositary receipts generally bear all of the costs of the depositary facility and the bank or trust company depositary of an unsponsored depositary receipt may be under no obligation to distribute shareholder communications from the foreign issuer or to pass through voting rights. These risks will vary from time to time and from country to country, especially if the country is considered an emerging market or developing country. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>ADR and GDR Risk: </i>ADRs and GDRs may be subject to some of the same risks as direct investment in foreign companies, which includes international trade, currency, political, regulatory and diplomatic risks. In a sponsored ADR arrangement, the foreign issuer assumes the obligation to pay some or all of the Depository’s transaction fees. Under an unsponsored ADR arrangement, the foreign issuer assumes no obligations and the Depository’s transaction fees are paid directly by the ADR holders. Because unsponsored ADR arrangements are organized independently and without the cooperation of the issuer of the underlying securities, available information concerning the foreign issuer may not be as current as for sponsored ADRs and voting rights with respect to the deposited securities are not passed through. GDRs can involve additional currency risk since, unlike ADRs, they may not be U.S. Dollar-denominated. ADRs and GDRs may not trade at parity with the associated underlying security. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Cybersecurity Risk:</i> With the increased use of technologies such as the Internet to conduct business, the Fund is susceptible to operational, information security, and related risks. Cyber incidents affecting the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Fund’s ability to calculate its NAV, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs. </p> </td> </tr> </table> Bar Chart and Performance Tables <p id="xdx_A89_eoef--PerformanceNarrativeTextBlock_z3btlVvlttoe" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">On November 20, 2023, the Fund acquired all the assets and liabilities of the Barrett Opportunity Fund, Inc., (the “Predecessor Fund”), an unaffiliated registered investment company. The Predecessor Fund was advised by Barrett Asset Management, LLC. Performance results shown in the bar chart and the performance table below for periods prior to November 20, 2023 reflect the performance of the Predecessor Fund. </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_90F_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260430__20260430__dei--LegalEntityAxis__custom--S000081721Member_zyckXdUFKRNc">The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s performance from year to year, and by showing how the Fund’s average annual returns for one-, five- and ten-years (including performance of the Predecessor Fund, as described above), compare with those of a broad-based securities market index.</span> <span id="xdx_90D_eoef--PerformancePastDoesNotIndicateFuture_c20260430__20260430__dei--LegalEntityAxis__custom--S000081721Member_z3RuuU5hDqYl">The Fund’s past performance (including the Predecessor Fund’s past performance), before and after taxes, is not necessarily an indication of how the Fund will perform in the future.</span> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">Updated performance information is available on <span id="xdx_90D_eoef--PerformanceAvailabilityWebSiteAddress_c20260430__20260430__dei--LegalEntityAxis__custom--S000081721Member_z3OqVvbLavSj">https://cisbh.com/funds</span> or call toll free <span id="xdx_90B_eoef--PerformanceAvailabilityPhone_c20260430__20260430__dei--LegalEntityAxis__custom--S000081721Member_zWK2GgunDOu2">(800) 392-2673</span>. </p> The following bar chart and table provide an indication of the risk of investing in the Fund by showing changes in the Fund’s performance from year to year, and by showing how the Fund’s average annual returns for one-, five- and ten-years (including performance of the Predecessor Fund, as described above), compare with those of a broad-based securities market index. The Fund’s past performance (including the Predecessor Fund’s past performance), before and after taxes, is not necessarily an indication of how the Fund will perform in the future. https://cisbh.com/funds (800) 392-2673 Barrett Opportunity Fund Retail Class - Calendar Year Total Returns as of December 31 (%) 0.1746 0.2058 -0.0933 0.1990 0.0123 0.3181 -0.0630 0.1772 0.2265 0.1281 <div id="xdx_A85_eoef--BarChartClosingTextBlock_zuaiL9CNDXQe"></div> <table cellpadding="2" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="background-color: Gainsboro"> <td style="vertical-align: top; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_902_eoef--HighestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000081721Member__oef--ClassAxis__custom--C000244699Member_zeByrbXF3nYk">Highest Quarterly Return</span>: </b><span style="font-weight: normal; font-style: normal"><span id="xdx_904_eoef--BarChartHighestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000081721Member__oef--ClassAxis__custom--C000244699Member_ziQpE12zUqt7">6/30/2020</span> <span id="xdx_90F_eoef--BarChartHighestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000081721Member__oef--ClassAxis__custom--C000244699Member_z3UhBfC9XWE2">16.98%</span></span></p></td> <td style="vertical-align: top; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_90F_eoef--LowestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000081721Member__oef--ClassAxis__custom--C000244699Member_z0KlTCTzkFre">Lowest Quarterly Return</span>: </b><span style="font-weight: normal; font-style: normal"><span id="xdx_905_eoef--BarChartLowestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000081721Member__oef--ClassAxis__custom--C000244699Member_zQwIHuXwRVIi">3/31/2020</span> <span id="xdx_904_eoef--BarChartLowestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000081721Member__oef--ClassAxis__custom--C000244699Member_zBfNZKi8e1qc">(24.44)%</span></span></p></td> </tr> </table> Highest Quarterly Return 2020-06-30 0.1698 Lowest Quarterly Return 2020-03-31 -0.2444 Average Annual Total Returns (for the Periods Ended December 31, 2025) <p id="xdx_A8F_eoef--PerformanceTableNarrativeTextBlock_zmCILxrNqOek" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_905_eoef--PerformanceTableUsesHighestFederalRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000081721Member_znRrLXjspSsh">After-tax returns for the Retail Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</span> Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. <span id="xdx_90A_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260430__20260430__dei--LegalEntityAxis__custom--S000081721Member_zv7OvZVFX0cg">After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts. </span></p> After-tax returns for the Retail Class are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts. 0.1281 0.1500 0.1211 0.0459 0.0852 0.0745 0.1346 0.1124 0.0898 0.1788 0.1442 0.1482 FUND SUMMARY – SBH SELECT EQUITY ETF Investment Objective <p id="xdx_A8F_eoef--ObjectivePrimaryTextBlock_zcuyG0cDxC6l" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Segall Bryant &amp; Hamill Select Equity ETF (the “SBH Select Equity ETF” or “Fund”) seeks to achieve long-term capital appreciation. </p> Fees and Expenses of the Fund <p id="xdx_A8E_eoef--ExpenseNarrativeTextBlock_zTtNyU4iNTGg" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. <b>You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and Example below. </b></p> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0055 0.0000 0.0012 0.0067 -0.0002 0.0065 April 30, 2027 Example <p id="xdx_A8F_eoef--ExpenseExampleNarrativeTextBlock_zaUmXBd33uQ3" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. <span id="xdx_907_eoef--ExpenseExampleByYearCaption_c20260430__20260430__dei--LegalEntityAxis__custom--S000080591Member_zP1KYuD5luba">The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses (including one year of capped expenses each period) remain the same. Although your actual costs may be higher or lower, based on these assumptions your cost would be:</span> </p> The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses (including one year of capped expenses each period) remain the same. Although your actual costs may be higher or lower, based on these assumptions your cost would be: 66 212 371 833 <p id="xdx_A85_eoef--ExpenseExampleNoRedemptionNarrativeTextBlock_zpIAjQoDtpcg" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">Your expenses would be the same if you did not redeem your shares. </p> Portfolio Turnover <p id="xdx_A81_eoef--PortfolioTurnoverTextBlock_z2UGjjX3YFSh" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the Example above, affect the Fund’s performance. This portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions. For the fiscal year ended December 31, 2025, the Fund’s portfolio turnover was <span id="xdx_903_eoef--PortfolioTurnoverRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000080591Member_zJJ5K1cn6Zwg">150%</span> of the average value of its portfolio. </p> 1.50 Principal Investment Strategies of the Fund <p id="xdx_A86_eoef--StrategyNarrativeTextBlock_hdei--LegalEntityAxis__custom--S000080591Member_zPUdMHnNloL" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; display: none; text-align: center"> </p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Under normal circumstances, the Fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in securities of companies whose stock is traded on U.S. markets, including depositary receipts (ADRs) or shares issued by companies incorporated outside of the United States. The Fund will provide shareholders with written notice sixty (60) days prior to any change in this investment policy. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Adviser invests the Fund’s assets opportunistically based on market information and does not limit its investment analysis approach to value, growth, or core (exhibiting neither overwhelming growth nor value attributes) investment styles. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Adviser believes that returns in excess of general market returns can be achieved by actively managing investment portfolios. The Fund invests in companies that the Adviser believes have superior growth potential and are trading at a discount to the Adviser’s estimate of the companies’ intrinsic value. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Adviser’s investment process is driven by fundamental research utilizing a combination of external and proprietary research in its selection process. Through a combination of quantitative analysis (which may encompass techniques such as evaluation of financial data or statistical/mathematical modeling), fundamental analysis (which may include assessments of a company’s holdings or key characteristics, as well as broader economic factors) and experienced judgment, the Adviser seeks to identify companies that have historically generated, or are positioned to generate, superior returns on investments. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Stocks may be sold when conditions have changed and the company’s prospects are no longer attractive, its stock price has achieved the team’s valuation target or better relative investment opportunities have been identified. </p> </td> </tr> </table> <p style="font: 0pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><b> </b></p> Risk is inherent in all investing and you could lose money by investing in the Fund. <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_91B_ecustom--MarketRiskMember_zWT4dMmFhgAc">Market Risk</span>: </i>As with any fund, the value of your investment will fluctuate over time in response to overall movements in the stock market. Further, investments in common stocks tend to be more volatile than many other investment choices. The value of a security or other asset may decline due to changes in general market conditions, economic trends or events that are not specifically related to the issuer of the security or other asset, or factors that affect a particular issuer or issuers, country, group of countries, region, market industry, group of industries, sector or asset class. Local, regional, or global events such as war, acts of terrorism, the spread of infections, illness or other public health issues, recessions, tariffs and other similar economic arrangements, or other events could have a significant impact on the Fund and its investments. During a general market downturn, multiple asset classes may be negatively affected. Changes in market conditions and interest rates generally do not have the same impact on all types of securities and instruments. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_91D_ecustom--EquitySecuritiesRiskMember_zAa0vvyG3ls2">Equity Securities Risk</span>:</i> This is the risk that the value of equity securities may fluctuate, sometimes rapidly and unpredictably, due to factors affecting the general market, an entire industry or sector, or particular companies. These factors include, without limitation, adverse changes in economic conditions, the general outlook for corporate earnings, interest rates or investor sentiment; increases in production costs; and significant management decisions. This risk is greater for small- and medium-sized companies, which tend to be more vulnerable to adverse developments than larger companies. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i>Non-Diversification Risk: </i>The Fund is classified as a “non-diversified” investment company under the Investment Company Act of 1940 (“1940 Act”). As a result, the Fund is subject to the risk that it may be more volatile than a diversified fund because the Fund may invest its assets in a smaller number of issuers or may invest a larger proportion of its assets in a single issuer. As a result, the gains and losses on a single investment may have a greater impact on the Fund’s NAV and may make the Fund more volatile than a more diversified fund. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_914_ecustom--PortfolioManagementRiskMember_zdcEPsuYpqqi">Portfolio Management Risk</span>:</i> The Fund is subject to the risk that the securities held by the Fund will underperform other securities and/or may decline in value. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_914_ecustom--InformationTechnologySectorRiskMember_zdZY6r9m0Q68">Information Technology Sector Risk</span>:</i> Information technology companies face intense competition, both domestically and internationally, which may have an adverse effect on profit margins. Like other technology companies, information technology companies may have limited product lines, markets, financial resources or personnel. The products of information technology companies may face obsolescence due to rapid technological developments, frequent new product introduction, unpredictable changes in growth rates and competition for the services of qualified personnel. Companies in the information technology sector are heavily dependent on patent and intellectual property rights. The loss, or impairment of, or inability to enforce, these rights may adversely affect the profitability of these companies. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_912_ecustom--SectorFocusRiskMember_zP7CYmqVOLzl">Sector Focus Risk</span>: </i>The Fund may, for finite periods and from time to time, make significant investments in a particular sector which may make the Fund more susceptible to adverse economic, business, regulatory or other developments affecting that sector. If an economic downturn occurs in a sector in which the Fund’s investments are focused, the Fund may perform poorly during that period. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_91E_ecustom--ExchangeTradedFundRiskMember_zlnV0KLxN4Zj">Exchange Traded Fund Risk</span>: </i>Because shares of ETFs (“ETF Shares”) are traded on an exchange, they are subject to additional risks: </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt"> </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The Fund’s ETF Shares are listed for trading on NYSE Arca and are bought and sold on the secondary market at market prices. Although it is expected that the market price of an ETF Share typically will approximate its net asset value (“NAV”), there may be times when the market price and the NAV differ significantly. Thus, you may pay more or less than NAV when you buy ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt"> </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Although the Fund’s ETF Shares are listed for trading on NYSE Arca, it is possible that an active trading market may not be maintained. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_914_ecustom--ETFLiquidityRiskMember_zNIv8Rb2N304">ETF Liquidity Risk</span>: </i>Trading of the Fund’s ETF Shares may be halted by the activation of individual or marketwide trading halts (which halt trading for a specific period of time when the price of a particular security or overall market prices decline by a specified percentage). Trading of the Fund’s ETF Shares may also be halted if (1) the shares are delisted from NYSE Arca without first being listed on another exchange or (2) NYSE Arca officials determine that such action is appropriate in the interest of a fair and orderly market or for the protection of investors. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt"> </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Disruptions to creations and redemptions, the existence of extreme market volatility or potential lack of an active trading market for the Fund’s shares may result in the Fund’s shares trading significantly above (at a premium) or below (at a discount) to NAV. In addition, in stressed market conditions or periods of market disruption or volatility, the market shares may become less liquid in response to deteriorating liquidity in the markets for the Fund’s underlying portfolio holdings. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_917_ecustom--IndirectForeignExposureRiskMember_zRxH6cTma7xj">Indirect Foreign Exposure Risk</span>: </i>Investments in U.S.-traded securities that are organized under the laws of a foreign country or have significant business operations abroad may be impacted by certain foreign exposure risks indirectly. This includes securities in the form of sponsored and unsponsored depositary receipts. Unsponsored depositary receipts may be created without the participation of the foreign issuer. Holders of these depositary receipts generally bear all of the costs of the depositary facility and the bank or trust company depositary of an unsponsored depositary receipt may be under no obligation to distribute shareholder communications from the foreign issuer or to pass through voting rights. These risks will vary from time to time and from country to country, especially if the country is considered an emerging market or developing country. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_91A_ecustom--PortfolioTurnoverRiskMember_zdm9xgugyyc9">Portfolio Turnover Risk</span></i>: Active and frequent trading of the Fund’s portfolio securities may lead to higher transaction costs and may result in a greater number of taxable transactions than would otherwise be the case, which could negatively affect the Fund’s performance. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_919_ecustom--ADRRiskMember_zNCL1FTjjGf5">ADR Risk</span>: </i>ADRs may be subject to some of the same risks as direct investment in foreign companies, which includes international trade, currency, political, regulatory and diplomatic risk. In a sponsored ADR arrangement, the foreign issuer assumes the obligation to pay some or all of the Depository’s transaction fees. Under an unsponsored ADR arrangement, the foreign issuer assumes no obligations and the Depository’s transaction fees are paid directly by the ADR holders. Because unsponsored ADR arrangements are organized independently and without cooperation of the issuer of the underlying securities, available information concerning the foreign issuer may not be as current as for sponsored ADRs and voting rights with respect to the deposited securities are not passed through. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_91C_ecustom--CybersecurityRiskMember_zMnu77pxZgw8">Cybersecurity Risk</span>: </i>Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, customer data (including private shareholder information), or proprietary information, or cause the Fund, the Adviser, and/or other service providers (including custodians, sub-custodians, transfer agents and financial intermediaries) to suffer data breaches, data corruption or loss of operational functionality. A cybersecurity incident may disrupt the processing of shareholder transactions, impact the Fund’s ability to calculate its net asset values, and prevent shareholders from redeeming their shares. </p> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 13.5pt"> </td> <td style="width: 18pt; vertical-align: top; text-align: right"> <p style="font: 11pt Times New Roman; text-align: left; margin-top: 0pt; margin-bottom: 0pt">● </p> </td> <td style="vertical-align: top; text-align: left"> <p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><i><span id="xdx_919_ecustom--TaxRisksMember_z4gF898QuBbg">Tax Risks</span></i>: The Fund intends to qualify each year as a regulated investment company (“RIC”) under the Internal Revenue Code of 1986, as amended (the “Code”), and to distribute substantially all of its net investment income and net capital gains. If the Fund fails to qualify as a RIC or to satisfy the required distribution levels, the Fund would be subject to U.S. federal income tax at the Fund level, and distributions from the Fund could also be taxable to shareholders at applicable tax rates, which could materially reduce the Fund’s net assets and return. Even if the Fund qualifies as a RIC, Fund distributions generally will be taxable to shareholders at applicable U.S. federal income tax rates, whether a shareholders receive them in cash or reinvest them in additional shares of the Fund. The Fund’s investments in securities of non-U.S. issuers may subject the Fund to foreign withholding and other foreign taxes on income, gains and proceeds, which may reduce the Fund’s return. </p> </td> </tr> </table> An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Performance <p id="xdx_A85_eoef--PerformanceNarrativeTextBlock_ztjx90eS3KL7" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_90D_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260430__20260430__dei--LegalEntityAxis__custom--S000080591Member_zWCu0IYZnkqi">The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year, and by showing how the Fund’s average annual returns for one-year and since inception periods compare with the Russell 3000^® Index, a broad-based securities market index, and the Russell 1000^® Index, an index more representative of the Fund’s investment strategy.</span> <span id="xdx_909_eoef--PerformancePastDoesNotIndicateFuture_c20260430__20260430__dei--LegalEntityAxis__custom--S000080591Member_z7oQZcPnd8j">The Fund’s past performance (before and after taxes) does not necessarily indicate how it will perform in the future.</span> Updated performance information is available on <span id="xdx_90B_eoef--PerformanceAvailabilityWebSiteAddress_c20260430__20260430__dei--LegalEntityAxis__custom--S000080591Member_zw8hVNc0CHV2">https://cisbh.com/funds/etfs</span> or call toll-free <span id="xdx_90F_eoef--PerformanceAvailabilityPhone_c20260430__20260430__dei--LegalEntityAxis__custom--S000080591Member_zOgUKYsHXQSj">(800) 836-4265</span>.</p> The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year, and by showing how the Fund’s average annual returns for one-year and since inception periods compare with the Russell 3000® Index, a broad-based securities market index, and the Russell 1000® Index, an index more representative of the Fund’s investment strategy. The Fund’s past performance (before and after taxes) does not necessarily indicate how it will perform in the future. https://cisbh.com/funds/etfs (800) 836-4265 SBH Select Equity ETF Calendar Year Total Returns as of December 31 (%) 0.2453 0.0241 <div id="xdx_A83_eoef--BarChartClosingTextBlock_zLkskMeXByic"></div> <table cellpadding="2" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="background-color: Gainsboro"> <td style="vertical-align: bottom; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_901_eoef--HighestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000080591Member__oef--ClassAxis__custom--C000243104Member_zLZIAHkEMG4d">Highest Quarterly Return:</span> </b><span style="font-weight: normal; font-style: normal"><span id="xdx_908_eoef--BarChartHighestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000080591Member__oef--ClassAxis__custom--C000243104Member_zMPPBfqKdzej">6/30/2025</span></span><span style="font-weight: normal; font-style: normal"> </span><span style="font-weight: normal; font-style: normal"><span id="xdx_903_eoef--BarChartHighestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000080591Member__oef--ClassAxis__custom--C000243104Member_zVXCNq1iK7Nk">8.36%</span></span></p></td> <td style="vertical-align: bottom; width: 50%"><p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 13.5pt; text-indent: -9pt; margin-bottom: 0pt; margin-top: 0pt"><b><span id="xdx_90B_eoef--LowestQuarterlyReturnLabel_c20260430__20260430__dei--LegalEntityAxis__custom--S000080591Member__oef--ClassAxis__custom--C000243104Member_zD4qL0DbepN1">Lowest Quarterly Return:</span> </b><span style="font-weight: normal; font-style: normal"><span id="xdx_90F_eoef--BarChartLowestQuarterlyReturnDate_c20260430__20260430__dei--LegalEntityAxis__custom--S000080591Member__oef--ClassAxis__custom--C000243104Member_zQHD7eXDAiBi">3/31/2025</span></span><span style="font-weight: normal; font-style: normal"> </span><span style="font-weight: normal; font-style: normal"><span id="xdx_901_eoef--BarChartLowestQuarterlyReturn_c20260430__20260430__dei--LegalEntityAxis__custom--S000080591Member__oef--ClassAxis__custom--C000243104Member_z6F7iOsIVHvc">(9.55)%</span></span></p></td> </tr> </table> Highest Quarterly Return: 2025-06-30 0.0836 Lowest Quarterly Return: 2025-03-31 -0.0955 Average Annual Total Returns (for the Periods Ended December 31, 2025) <p id="xdx_A88_eoef--PerformanceTableNarrativeTextBlock_z51p47OoGDdd" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"><span id="xdx_906_eoef--PerformanceTableUsesHighestFederalRate_c20260430__20260430__dei--LegalEntityAxis__custom--S000080591Member_zP74GE1M3Yfh">After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</span> Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. <span id="xdx_90F_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260430__20260430__dei--LegalEntityAxis__custom--S000080591Member_zO90fnFSLAie">After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts. </span></p> After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-qualified arrangements, such as 401(k) plans or individual retirement accounts. 0.0241 0.1356 0.0241 0.1353 0.0143 0.1052 0.1737 0.2108 0.1715 0.2070 2023-08-29 2023-08-29 2023-08-29 2023-08-29 2023-08-29 The Retail Class and the Institutional Class of the Fund may pay a fee at an annual rate of up to 0.25% and 0.10%, respectively, of average daily net assets to shareholder servicing agents. The amount listed represents the maximum fee that the Fund may pay. Actual Shareholder Service Fees for the fiscal year ended December 31, 2025 were 0.19% and 0.07% for the Retail Class and Institutional Class, respectively. Refer to the “Shareholder Service Fee” section in the prospectus. Segall Bryant & Hamill, LLC (d/b/a CI SBH Asset Management) (“SBH” or the “Adviser”), the Fund’s investment adviser, has contractually agreed until at least April 30, 2027, to waive the investment advisory and/or administration fees and/or to reimburse other expenses (not including acquired fund fees and expenses, taxes, redemption in kind processing fees, brokerage expenses, class action claim fees, tax reclaim fees, and extraordinary expenses), so that the ratio of expenses of average net assets as reported in the Fund’s Financial Highlights will be no more than 1.14% and 0.99% to the Fund’s Retail Class and Institutional Class, respectively, for such period. This agreement may not be terminated or modified by the Adviser prior to the termination date without the approval of the Board of Trustees. Retail Class commenced operations on December 9, 2019 and Institutional Class commenced operations on July 31, 2013. The ten-years performance figure for Retail Class includes the performance for Institutional Class for the periods prior to the start date of Retail Class, adjusted for the difference in Retail Class and Institutional Class expenses. Retail Class imposes higher expenses than Institutional Class. The Retail Class and the Institutional Class of the Fund may pay a fee at an annual rate of up to 0.25% and 0.10%, respectively, of average daily net assets to shareholder servicing agents. The amount listed represents the maximum fee that the Fund may pay. Actual Shareholder Service Fees for the fiscal year ended December 31, 2025 were 0.24% and 0.09% for the Retail Class and Institutional Class, respectively. Refer to the “Shareholder Service Fee” section in the prospectus. The Retail Class and the Institutional Class of the Fund may pay a fee at an annual rate of up to 0.25% and 0.10%, respectively, of average daily net assets to shareholder servicing agents. The amount listed represents the maximum fee that the Fund may pay. Actual Shareholder Service Fees for the fiscal year ended December 31, 2025 were 0.16% and 0.05% for the Retail Class and Institutional Class, respectively. Refer to the “Shareholder Service Fee” section in the prospectus. Segall Bryant & Hamill, LLC (d/b/a CI SBH Asset Management) (“SBH” or the “Adviser”), the Fund’s investment adviser, has contractually agreed until at least April 30, 2027, to waive the investment advisory and/or administration fees and/or to reimburse other expenses (not including acquired fund fees and expenses, taxes, redemption in kind processing fees, brokerage expenses, class action claim fees, tax reclaim fees, and extraordinary expenses), so that the ratio of expenses of average net assets as reported in the Fund’s Financial Highlights will be no more than 1.14% and 0.99% to the Fund’s Retail Class and Institutional Class, respectively, for such period. This agreement may not be terminated or modified by the Adviser prior to the termination date without the approval of the Board of Trustees. The Fund commenced operations on December 31,2019. The ten-year performance figure for the Institutional Class performance shown includes the Small Cap Core Predecessor Fund which commenced operations on December 15, 2003. The ten-year performance figure for Retail Class includes the performance for Institutional Class for the periods prior to the start date of Retail Class, adjusted for the difference in Retail Class and Institutional Class expenses. Retail Class imposes higher expenses than Institutional Class. The Retail Class and the Institutional Class of the Fund may pay a fee at an annual rate of up to 0.25% and 0.10%, respectively, of average daily net assets to shareholder servicing agents. The amount listed represents the maximum fee that the Fund may pay. Actual Shareholder Service Fees for the fiscal year ended December 31, 2025 were 0.12% and 0.09% for the Retail Class and Institutional Class, respectively. Refer to the “Shareholder Service Fee” section in the prospectus. Segall Bryant & Hamill, LLC (d/b/a CI SBH Asset Management) (“SBH” or the “Adviser”), the Fund’s investment adviser, has contractually agreed until at least April 30, 2027, to waive the investment advisory and/or administration fees and/or to reimburse other expenses (not including acquired fund fees and expenses, taxes, redemption in kind processing fees, brokerage expenses, class action claim fees, tax reclaim fees, and extraordinary expenses), so that the ratio of expenses of average net assets as reported in the Fund’s Financial Highlights will be no more than 0.99% and 0.84% to the Fund’s Retail Class and Institutional Class, respectively, for such period. This agreement may not be terminated or modified by the Adviser prior to the termination date without the approval of the Board of Trustees. Retail Class commenced operations on December 9, 2019. Institutional Class commenced operations on July 31, 2013. The ten-year performance figure for Retail Class includes the performance for Institutional Class for the periods prior to the start date of Retail Class, adjusted for the difference in Retail Class and Institutional Class expenses. Retail Class imposes higher expenses than Institutional Class. The Retail Class and the Institutional Class of the Fund may pay a fee at an annual rate of up to 0.25% and 0.10%, respectively, of average daily net assets to shareholder servicing agents. The amount listed represents the maximum fee that the Fund may pay. Actual Shareholder Service Fees for the fiscal year ended December 31, 2025 were 0.22% and 0.06% for the Retail Class and Institutional Class, respectively. Refer to the “Shareholder Service Fee” section in the prospectus. Segall Bryant & Hamill, LLC (d/b/a CI SBH Asset Management) (“SBH” or the “Adviser”), the Fund’s investment adviser, has contractually agreed until at least April 30, 2027, to waive the investment advisory and/or administration fees and/or to reimburse other expenses (not including acquired fund fees and expenses, taxes, redemption in kind processing fees, brokerage expenses, class action claim fees, tax reclaim fees, and extraordinary expenses), so that the ratio of expenses of average net assets as reported in the Fund’s Financial Highlights will be no more than 1.14% and 0.99% to the Fund’s Retail Class and Institutional Class, respectively, for such period. This agreement may not be terminated or modified by the Adviser prior to the termination date without the approval of the Board of Trustees. The Retail Class and the Institutional Class of the Fund may pay a fee at an annual rate of up to 0.25% and 0.10%, respectively, of average daily net assets to shareholder servicing agents. The amount listed represents the maximum fee that the Fund may pay. Actual Shareholder Service Fees for the fiscal year ended December 31, 2025 were 0.16% and 0.07% for the Retail Class and Institutional Class, respectively. Refer to the “Shareholder Service Fee” section in the prospectus. Other Expenses includes tax reclaim fees of 0.02%, which are excluded from the expense limitation agreement described below. Segall Bryant & Hamill, LLC (d/b/a CI SBH Asset Management) (“SBH” or the “Adviser”) has contractually agreed until at least April 30, 2027, to waive the investment advisory and/or administration fees and/or to reimburse other expenses (not including acquired fund fees and expenses, taxes, redemption in kind processing fees, brokerage expenses, class action claim fees, tax reclaim fees, and extraordinary expenses), so that the ratio of expenses of average net assets as reported in the Fund’s Financial Highlights will be no more than 1.18% and 1.03% to the Fund’s Retail Class and Institutional Class, respectively, for such period. This agreement may not be terminated or modified by the Adviser prior to the termination date without the approval of the Board of Trustees. The Retail Class and the Institutional Class of the Fund may pay a fee at an annual rate of up to 0.25% and 0.10%, respectively, of average daily net assets to shareholder servicing agents. The amount listed represents the maximum fee that the Fund may pay. Actual Shareholder Service Fees for the fiscal year ended December 31, 2025 were 0.22% and 0.07% for the Retail Class and Institutional Class, respectively. Refer to the “Shareholder Service Fee” section in the prospectus. Segall Bryant & Hamill, LLC (d/b/a CI SBH Asset Management) (“SBH” or the “Adviser”), the Fund’s investment adviser, has contractually agreed until at least April 30, 2027, to waive the investment advisory and/or administration fees and/or to reimburse other expenses (not including acquired fund fees and expenses, taxes, redemption in kind processing fees, brokerage expenses, class action claim fees, tax reclaim fees, and extraordinary expenses), so that the ratio of expenses of average net assets as reported in the Fund’s Financial Highlights will be no more than 0.99% and 0.84% to the Fund’s Retail Class and Institutional Class, respectively, for such period. This agreement may not be terminated or modified by the Adviser prior to the termination date without the approval of the Board of Trustees. Institutional Class and Retail Class of the Fund commenced operations on December 8, 2023. For periods prior to December 8, 2023, the Institutional Class performance shown includes the Predecessor Fund which commenced operations on October 27, 2021. The performance figures for Retail Class include the performance for Institutional Class for the periods prior to the start date of Retail Class, adjusted for the difference in Retail Class and Institutional Class expenses. Retail Class imposes higher expenses than Institutional Class. The Retail Class and the Institutional Class of the Fund may pay a fee at an annual rate of up to 0.25% and 0.10%, respectively, of average daily net assets to shareholder servicing agents. The amount listed represents the maximum fee that the Fund may pay. Actual Shareholder Service Fees for the fiscal year ended December 31, 2025 were 0.11% and 0.09% for the Retail Class and Institutional Class, respectively. Refer to the “Shareholder Service Fee” section in the prospectus. Other Expenses includes tax reclaim fees of 0.04%, which are excluded from the expense limitation agreement described below. Segall Bryant & Hamill, LLC (d/b/a CI SBH Asset Management) (“SBH” or the “Adviser”), the Fund’s investment adviser, has contractually agreed until at least April 30, 2027, to waive the investment advisory and/or administration fees and/or to reimburse other expenses (not including acquired fund fees and expenses, taxes, redemption in kind processing fees, brokerage expenses, class action claim fees, tax reclaim fees, and extraordinary expenses), so that the ratio of expenses of average net assets as reported in the Fund’s Financial Highlights will be no more than 0.89% and 0.74% to the Fund’s Retail Class and Institutional Class, respectively, for such period. This agreement may not be terminated or modified by the Adviser prior to the termination date without the approval of the Board of Trustees. The Retail Class and the Institutional Class of the Fund may pay a fee at an annual rate of up to 0.25% and 0.10%, respectively, of average daily net assets to shareholder servicing agents. The amount listed represents the maximum fee that the Fund may pay. Actual Shareholder Service Fees for the fiscal year ended December 31, 2025 were 0.23% and 0.09% for the Retail Class and Institutional Class, respectively. Refer to the “Shareholder Service Fee” section in the prospectus. Segall Bryant & Hamill, LLC (d/b/a CI SBH Asset Management) (“SBH” or the “Adviser”), the Fund’s investment adviser, has contractually agreed until at least April 30, 2027, to waive the investment advisory and/or administration fees and/or to reimburse other expenses (not including acquired fund fees and expenses, taxes, redemption in kind processing fees, brokerage expenses, class action claim fees, tax reclaim fees, and extraordinary expenses), so that the ratio of expenses of average net assets as reported in the Fund’s Financial Highlights will be no more than 0.55% and 0.40% to the Fund’s Retail Class and Institutional Class, respectively, for such period. This agreement may not be terminated or modified by the Adviser prior to the termination date without the approval of the Board of Trustees. The Retail Class and the Institutional Class of the Fund may pay a fee at an annual rate of up to 0.25% and 0.10%, respectively, of average daily net assets to shareholder servicing agents. The amount listed represents the maximum fee that the Fund may pay. Actual Shareholder Service Fees for the fiscal year ended December 31, 2025 were 0.21% and 0.08% for the Retail Class and Institutional Class, respectively. Refer to the “Shareholder Service Fee” section in the prospectus. Segall Bryant & Hamill, LLC (d/b/a CI SBH Asset Management) (“SBH” or the “Adviser”), the Fund’s investment adviser, has contractually agreed until at least April 30, 2027, to waive the investment advisory and/or administration fees and/or to reimburse other expenses (not including acquired fund fees and expenses, taxes, redemption in kind processing fees, brokerage expenses, class action claim fees, tax reclaim fees, and extraordinary expenses), so that the ratio of expenses of average net assets as reported in the Fund’s Financial Highlights will be no more than 0.85% and 0.70% to the Fund’s Retail Class and Institutional Class, respectively, for such period. This agreement may not be terminated or modified by the Adviser prior to the termination date without the approval of the Board of Trustees. The Retail Class and the Institutional Class of the Fund may pay a fee at an annual rate of up to 0.25% and 0.10%, respectively, of average daily net assets to shareholder servicing agents. The amount listed represents the maximum fee that the Fund may pay. Actual Shareholder Service Fees for the fiscal year ended December 31, 2025 were 0.24% and 0.10% for the Retail Class and Institutional Class, respectively. Refer to the “Shareholder Service Fee” section in the prospectus. Segall Bryant & Hamill, LLC (d/b/a CI SBH Asset Management) (“SBH” or the “Adviser”), the Fund’s investment adviser, has contractually agreed until at least April 30, 2027, to waive the investment advisory and/or administration fees and/or to reimburse other expenses (not including acquired fund fees and expenses, taxes, redemption in kind processing fees, brokerage expenses, class action claim fees, tax reclaim fees, and extraordinary expenses), so that the ratio of expenses of average net assets as reported in the Fund’s Financial Highlights will be no more than 0.65% and 0.50% to the Fund’s Retail Class and Institutional Class, respectively, for such period. This agreement may not be terminated or modified by the Adviser prior to the termination date without the approval of the Board of Trustees. Institutional Class and Retail Class of the Fund commenced operations on December 16, 2016. The Retail Class and the Institutional Class of the Fund may pay a fee at an annual rate of up to 0.25% and 0.10%, respectively, of average daily net assets to shareholder servicing agents. The amount listed represents the maximum fee that the Fund may pay. Actual Shareholder Service Fees for the fiscal year ended December 31, 2025 were 0.22% and 0.10% for the Retail Class and Institutional Class, respectively. Refer to the “Shareholder Service Fee” section in the prospectus. Segall Bryant & Hamill, LLC (d/b/a CI SBH Asset Management) (“SBH” or the “Adviser”), the Fund’s investment adviser, has contractually agreed until at least April 30, 2027, to waive the investment advisory and/or administration fees and/or to reimburse other expenses (not including acquired fund fees and expenses, taxes, redemption in kind processing fees, brokerage expenses, class action claim fees, tax reclaim fees, and extraordinary expenses), so that the ratio of expenses of average net assets as reported in the Fund’s Financial Highlights will be no more than 0.65% and 0.50% to the Fund’s Retail Class and Institutional Class, respectively, for such period. This agreement may not be terminated or modified by the Adviser prior to the termination date without the approval of the Board of Trustees. Institutional Class commenced operations on April 29, 2016. The ten-year performance figure for Institutional Class includes the performance for Retail Class for the periods prior to the start date of the Institutional Class. The Institutional Class performance has not been adjusted to reflect the lower fees and expenses of the Institutional Class because (1) the Retail Class represent interests in the same portfolio of securities; and (2) the fees and expenses of the Institutional Class are lower than the Retail Class. The Fund’s Retail Class may pay a fee at an annual rate of up to 0.25% of average daily net assets to shareholder servicing agents. The amount listed represents the maximum fee that the Fund may pay. Actual Shareholder Service Fees for the fiscal year ended December 31, 2025 were 0.20%. Refer to the “Shareholder Service Fee” section in the prospectus. Segall Bryant & Hamill, LLC (d/b/a CI SBH Asset Management) (“SBH” or the “Adviser”), the Fund’s investment adviser, has contractually agreed until at least April 30, 2027, to waive the investment advisory and/or administration fees and/or reimburse other expenses (not including acquired fund fees and expenses, taxes, redemption in kind processing fees, brokerage expenses, class action claim fees, tax reclaim fees, and extraordinary expenses), so that the ratio of expenses of average net assets as reported in the Fund’s Financial Highlights will be no more than 0.99% for such period. This agreement may not be terminated or modified by the Adviser prior to the termination date without the approval of the Board of Trustees. The Fund’s Retail Class may pay a fee at an annual rate of up to 0.25% of average daily net assets to shareholder servicing agents. The amount listed represents the maximum fee that the Fund may pay. Actual Shareholder Service Fees for the fiscal year ended December 31, 2025 were 0.01%. Refer to the “Shareholder Service Fee” section in the prospectus. Segall Bryant & Hamill, LLC (d/b/a CI SBH Asset Management) (“SBH” or the “Adviser”), the Fund’s investment adviser, has contractually agreed until at least April 30, 2027, to waive the investment advisory and/or administration fees and/or reimburse other expenses (not including acquired fund fees and expenses, taxes, redemption in kind processing fees, brokerage expenses, class action claim fees, tax reclaim fees, and extraordinary expenses), so that the ratio of expenses of average net assets as reported in the Fund’s Financial Highlights will be no more than 0.99% for such period. This agreement may not be terminated or modified by the Adviser prior to the termination date without the approval of the Board of Trustees. Segall Bryant & Hamill, LLC (d/b/a CI SBH Asset Management), (the “SBH” or the “Adviser”), the Fund’s investment adviser, has contractually agreed until at least April 30, 2027 to waive the investment advisory and/or administration fees and/or to reimburse other expenses (not including acquired fund fees and expenses, taxes, redemption in kind processing fees, brokerage expenses, class action claim fees, tax reclaim fees, and extraordinary expenses), so that the ratio of expenses of average net assets as reported in the Fund’s Financial Highlights will be no more than 0.65%. This agreement may not be terminated or modified by the Adviser prior to the termination date without the approval of the Board of Trustees. The Fund commenced operations on August 29, 2023.